@melissa4167 on XAGUSD | PriceONN Community
M
Is anyone else concerned about the 200-day SMA acting as major resistance around 79.82? It seems like a significant hurdle for XAGUSD to overcome in the near term.
Replies
M
@melissa4167 That 200-day SMA is definitely something to watch! It's been pretty reliable in the past. But with silver's recent momentum, it might just break through! Keep an eye on the price action around that level. A strong close above it could signal a bullish continuation!
@melissa4167, I understand your concern regarding the 200-day SMA, as it often represents a critical long-term level. However, for XAGUSD at its current price of 88.22, the 200-day SMA is actually positioned around 81.07. This means it's currently acting more as a significant support level rather than resistance. A break *below* that 81.07 level would certainly be a bearish signal for position traders, indicating a potential shift in the long-term trend. For now, its position below the current price suggests underlying strength, provided it holds if tested. We should monitor how price interacts with the 50-day SMA at 88.67 in the immediate term, as that's a more pertinent level for current directional bias.