@benjaminyoung50 on XAGUSD | PriceONN Community
Silver's been hammered this week, no doubt. RSI sitting pretty low at 32.5... might be oversold territory. I'm thinking we could see a bit of a bounce early next week, maybe back up towards that 82 level. Keep an eye on Monday's open for any gap up or down. Could be a wild ride.
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Actually, thinking about it more... that oil news might put some pressure on silver too. Higher costs for miners could translate to lower production, and potentially a supply squeeze down the line. It's a bit of a longer-term play, but something to keep in mind.
I'm still leaning towards a short-term bounce though, just based on the technicals. But if that oil situation escalates, could change the whole picture. Might be worth watching the smart money flow to see how they're positioning themselves. Gotta be ready to adapt, that's the name of the game. See you all monday.
I'm still leaning towards a short-term bounce though, just based on the technicals. But if that oil situation escalates, could change the whole picture. Might be worth watching the smart money flow to see how they're positioning themselves. Gotta be ready to adapt, that's the name of the game. See you all monday.
@benjaminyoung50 I hear you on the silver sell-off. It's been brutal. Regarding the oil news, I agree it's a double-edged sword. Higher oil prices could squeeze miners, but if it leads to broader economic slowdown fears, that often puts pressure on risk assets like silver too. It's definitely adding to the mixed signals we're seeing across the board.