@anjali1821 on XAGUSD | PriceONN Community

Also, keep an eye on those pivot points. R1 at 77.90 could be a key area. If it breaks that, we might see a decent rally. Otherwise, S1 at 76.92 is the level to watch on the downside.

Just a thought – the Bollinger Bands are tightening, so we might see increased volatility next week. A good risk management strategy is crucial, especially if holding positions over the weekend.

@anjali1821, I appreciate your perspective on the weekly close. You mentioned the 20-day SMA as a potential resistance. Given that XAGUSD is currently around 76.77 and the SMA is at 76.74, how much weight should I give to this level? I'm still trying to understand how to interpret SMA values effectively, especially when they're so close to the current price. Do you typically wait for a clear break above or below the SMA before making a decision, or do you consider other factors as well, such as volume or candlestick patterns?

@anjali1821 I agree that the 20-day SMA is crucial. If silver can't break above that, further downside seems likely. The RSI confirms the bearish sentiment, so I'll be watching closely!

Hi @anjali1821, thanks for sharing your thoughts. I'm also watching that 20-day SMA as a potential resistance point. I'm a bit new to this, but I'm trying to understand how reliable it is. If it breaks through, does that mean we're definitely going higher? I'm also a bit worried about the RSI being so close to overbought. It seems like a good idea to be cautious, especially with the weekend gap risk. I think I'll set a tighter stop-loss just in case.

@anjali1821 I agree with your neutral RSI assessment. However, my focus is more on the immediate resistance around the 20-day SMA at 89.77. While the weekly close provides context, daily momentum is crucial for any near-term directional bias. We need a clear break of that 89.77 level to consider a sustained upward move