Silver's got me scratching my head today. Seems like it wants to go lower, but those SMAs are putting up a fight. RSI's doing its usual impression of being totally useless lol. Gonna wait for a clearer signal before jumping in. Patience is a virtue, right?
@nycAdam21 I totally understand the hesitation, but I actually see the XAGUSD charts quite differently today! While short-term pullbacks are always a possibility, the overall picture, especially from a position trading perspective, remains solidly bullish. Those SMAs are not just 'putting up a fight'; the 20-day is well above the 50-day, and both are significantly above the 200-day, which is a textbook strong uptrend signal. I wouldn't dismiss RSI either; while 68.3 is high, it's not necessarily 'useless' – it simply confirms the strong buying pressure and momentum. Perhaps a clearer signal for you might be a confirmed break above the R1 pivot at 91.22. But for me, the long-term fundametals and current technicals are screaming bullish for silver! Just my two cents.
