@JessicaMoore76 on XAGUSD | PriceONN Community
J
Anyone else think silver is range-bound for now? The 20 and 50 SMAs are so close together. I'm seeing resistance around 77 and support around 76. What are your thoughts on potential breakout levels or indicators to watch for a clearer signal?
Replies
J
Update: Thinking about adjusting my short entry. Seeing some support around 76.40 now. Maybe a false breakout incoming? Gonna watch the H1 chart closely for a reversal pattern before committing fully. RSI still looks weak though, so the bearish bias is still there for me. If 76.50 holds, I'll probably cancel the order. Need to see more confirmation before jumping in. This sideways action is killing me!
G
@JessicaMoore76 I agree, silver's been choppy. I'd watch the Bollinger Bands for a breakout. A clear break above the upper band (84.40ish) could signal a strong move up.
@JessicaMoore76, I agree with your assessment of silver being range-bound. The SMAs are definitely converging, indicating indecision. I'm watching the Bollinger Bands for a potential squeeze and breakout. A break below the lower band around 84.44 could signal a strong bearish move, while a push above the upper band at 93.84 might trigger a rally. Keep an eye on the D1 chart for confirmation.