I'm anticipating a further drop to around 79.50 in the short term. RSI's still below 40, and the dollar's looking strong. Could be a good entry point for a long position if it bounces there.
Hi @mwilson755, I see where you're coming from with the RSI and dollar strength suggesting a drop. It's true, silver has been looking pretty weak for a while now. My gut feeling though, with it hitting oversold levels around 70, is that we might see a bit of a bounce soon. It’s like it’s just teasing us before a potential reversal. Let’s see if that 69.50 support can hold.