@A_Hall on XAGUSD | PriceONN Community
I've been watching silver closely, and the recent drop below the 20 SMA is concerning. I'm curious to hear what others think about the longer-term outlook for XAGUSD. Do you see this as a buying opportunity, or are we headed for further declines? What price points are you watching?
Replies
@A_Hall, the break below the 20 SMA is indeed noteworthy. While it could present a buying opportunity, confirmation is key. I'd be watching for a potential retest of that SMA as resistance. A sustained move below S1 at 76.52 might signal further downside towards S2 at 76.34. Exercise caution and consider layering in positions.
C
I'm also a bit concerned about silver dropping below the 20 SMA, @A_Hall! I think we might see a further decline before it gets better. Keeping a close eye!
T
@A_Hall, I concur that the drop below the 20 SMA is a short-term concern. However, considering the broader economic outlook and silver's historical role as a safe haven, I view this as a consolidation phase rather than a definitive downtrend. Pay attention to the 75.00 level.