@oliver746 on XAGUSD | PriceONN Community

Actually, thinking more about that 2022 comparison I made earlier, the key difference now is the broader commodity basket. Gold is reacting to geopolitical news, which is a bit of a wildcard for silver. However, the technical setup is eerily similar to the lead-up to that bearish leg. The failure to hold above the 50 SMA, especially with the 20 SMA now crossing below it, suggests underlying weakness. We're also seeing some divergence on the MACD if you look at the 4-hour chart, which could indicate this current dip has more room to run before any significant recovery. I'm keeping a close eye on that 71.04 support level from the Bollinger bands.