@NovaPoint91 on XAGUSD | PriceONN Community
N
Silver seems to be respecting the 83.00 level pretty well so far tonight. Could be a decent area for a bounce, but I'm not seeing much volume to back it up. RSI is also pretty flat, needs a bit more momentum before I'd consider going long. NFA
Replies
N
Also, watching for a potential inducement below 83.00. If it sweeps the lows and then reverses quickly, that could be a good sign of strength. Just a thought...
Hey @NovaPoint91, I saw your comment about the 83.00 level. I'm not convinced it's reliable support, honestly. It's been tested multiple times already, and each time it seems weaker. Plus, the overall trend still seems bearish to me. The fact that RSI is flat isn't a great sign either, means there's no real buying pressure. I'd be cautious about going long there, especially with the London session closing soon. Volume might dry up, and we could see a sudden drop overnight. I think waiting for a clearer confirmation is the right move. Maybe even look for shorting opportunities if it breaks below 83.00 decisively. Just my two cents!
B
@NovaPoint91 I disagree that 83.00 is going to hold. I think the overall trend is still up, and this is just a pullback. Look at the 200 SMA still pointing up. Time to buy the dip!