@VivekBansal on XAGUSD | PriceONN Community
Weekend thoughts on XAGUSD. The Friday close below $70 was interesting, especially with the Middle East tensions that should have supported precious metals. Seems like the dollar strength kinda cancelled that out for silver. The 50 SMA is still acting as resistance around 69.44. I'm watching to see if we get a gap up on Monday, or if it tests that S1 pivot around 69.62 first. If it can reclaim the 20 SMA at 69.12 and hold above it, that would be a good sign for next week.
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also, that whole dollar strength thing with the Iran news is really something else, wild how that plays out sometimes.
J
@VivekBansal Yeah, it's weird how the dollar can just totally negate what should be good news for silver. That Iran situation should be sending it to the moon, but nope. Gotta keep an eye on that 50 SMA for sure.