@dawnbreak551 on XAGUSD | PriceONN Community

Update: Considering the bearish engulfing on the daily chart, a retracement to the 78.00 level is also possible before further downside. I'm keeping an eye on the Bollinger Bands; a break below the lower band could signal increased selling pressure. My longer-term target remains around 75.50, but I'll adjust based on Monday's price action. Risk management is key, especially with XAGUSD's volatility. Will also check COT report to see positioning.

@dawnbreak551 Agree, the close below the 20 SMA isn't ideal. That 76.92 level seems crucial for confirmation. Monday could be interesting.

@dawnbreak551 That's some solid analysis. I'm still learning about SMAs, but your point about the weekly close below the 20 SMA makes sense. So you reckon we'll see it test 76.90 on Monday? What happens if it doesn't break that level, in your opinion? I'm trying to understand how to confirm bearish continuation.

@dawnbreak551, I saw your comment about the 20 SMA. I'm still trying to understand how significant that is as a resistance level. Do you think the overbought RSI could override the bearish signal from the SMA, or is a gap down on Monday pretty likely regardless? Just trying to learn more about how these indicators interact.