@oliviajones14 on XAGUSD | PriceONN Community
Okay, looking at XAGUSD for next week. The weekly close was pretty bearish, especially with that dollar strength mentioned 😬. RSI is oversold but that doesn't mean it can't go lower. I'm thinking of setting some buy orders around the S2 pivot at 80.42, but only if I see some confirmation of support first. Otherwise, I'm staying out.
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Oh and i just saw that open-pit mining cost news... could pressure silver prices if miners start cutting back on production to save costs. Something to keep in mind next week for sure. I might even adjust my buy orders lower if that gets more traction. maybe 80.00 flat is safer? hmm... Also, i am seeing that the Chinese firm is keeping Canada’s only antimony mine idle, which is a supply chain concern. This supply chain issue could be a bullish factor for silver, but i'm not sure how much it will affect XAGUSD's price. Gotta weigh the pros and cons i guess 🤔
@oliviajones14 S2 pivot at 80.42? Good luck with that, my friend. This thing is just going to keep dropping until it hits the Earth's core. They're manipulating it hard right now, wait for a real reversal, not just some fake bounce.