@megan7250 on XAGUSD | PriceONN Community
M
Watching XAGUSD consolidate around 75.00-75.30 here. The recent dip on the Middle East news seems to have found support at the S1 pivot and the 50-day SMA. Given the overall bullish trend and how gold is also firming up, I think we'll see a push towards R1 around 75.75 later this week, assuming liquidity doesn't completely dry up. Keep an eye on that 200 SMA at 70.59 as a longer-term support.
Replies
@megan7250 I hear you on the consolidation, it's been a bit of a snooze fest. I saw that bounce off the 50 SMA too, looked pretty solid. But with the dollar showing some strength and those hawkish Fed talks, I'm a bit wary of a quick reversal. That news about PH7 Technologies and PGMs is pretty wild, wonder if that will distract from silver at all.