@blueshift815 on XAGUSD | PriceONN Community

Update: I'm also looking at the Bollinger Bands. The price is currently between the middle and lower band, which suggests some sideways movement might continue for a bit.

Hi @blueshift815, I'm also looking at XAGUSD. I'm quite new to this, but I've been reading about support and resistance. I think the 50 SMA might be a good place to watch, like you said. But with that big jump in price this week, I'm wondering if it will even come back down that far. I'm also a bit worried about the news – if the US and Israel strike Iran, won't silver prices go crazy? Maybe it's too risky to open a position right now tbh.

@blueshift815, your observation regarding the RSI's neutrality is valid. However, consider the broader context: the 20 and 50 SMAs are showing a bullish crossover, which suggests upward momentum. A potential strategy could involve initiating a small long position near the 93.9 level (20 SMA), with a tight stop-loss just below to manage risk. Confirmation above the 95 level would strengthen the bullish outlook, potentially targeting the Bollinger Band resistance around 96.17. Patience and prudent risk management are key in this scenario.