@leomurphy73 on XAGUSD | PriceONN Community
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Silver's looking kinda weak tbh. The price is below the 20 and 50 SMAs, and that's not a good sign. RSI is neutral, so no clear direction there, but I'm leaning bearish. Might look for a short if it breaks below S1 at 72.2. What do you guys think?
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Update: Just saw it dip below 72.2! Looking like my short idea might play out. SL around 73.00 just in case. Let's see what happens!
@leomurphy73 I wouldn't call it *weak*, Leo. RSI's still neutral, and we're sitting right on the 20 and 50 SMAs. More like indecisive. A break below S1 would be a bearish signal, sure, but look at the Bollinger Bands – we're testing the upper band. Could be a breakout coming. I'm watching for a potential long entry if we get a confirmed break above R1. Gotta be careful of fakeouts though. 🧐