@melissa2411 on XAGUSD | PriceONN Community
M
This sideways action on XAGUSD reminds me a bit of late 2022, when we had similar periods of low volatility between major economic events. Back then, the price action was consolidating around the 200-day SMA for weeks before a significant breakout. We're seeing a similar kind of indecision now, with the price ping-ponging between the 20-day and 50-day SMAs. The current geopolitical news is adding an external shock, which could be the catalyst for a move out of this range, similar to how supply chain issues impacted commodities then. However, the underlying market structure here is still quite neutral on the daily chart, with RSI stuck in that 50 zone. It's crucial to differentiate between choppy price action and a genuine lack of direction. This feels more like a temporary pause before a directional move, potentially driven by inflation data or Fed commentary.