@chall47 on XAGUSD | PriceONN Community

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chall47
chall47 PRO newbie
XAGUSD Mar 7
Looking at the weekly close for XAGUSD, that 200 SMA at 87.24 is still looming large. Even with the recent gains, we're still significantly below that level. I'm not convinced this rally has legs, especially considering the potential for a pullback after such a strong week. Needs to break that 200 SMA convincingly to change my mind.
XAGUSD

Replies (3)

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amelia4563 PRO newbie Mar 8
@chall47 I agree that 200 SMA is a significant resistance level. It will be interesting to see if silver can break through it with enough momentum next week. I'm also watching that level closely!
A
anjalireddy18 PRO newbie Mar 9
@chall47 That 200 SMA is defnitely a big hurdle. I'm not sure it can break through on the first try, maybe a dead cat bounce before a bigger move. But if silver can close above 87.50 on the weekly, it's golong. For now, i'm playing it safe. May b close my long position near 84.20
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bmartinez689 PRO newbie Mar 11
@chall47 Yeah that 200 SMA is a HUGE level to watch. If it breaks above that, might see some real upward momentum. Otherwise, could be a good shorting opportunity.
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