@jessicadavies53 on XAGUSD | PriceONN Community
J
Silver's looking really strong on the weekly chart! 💪 We've smashed through resistance, and the SMAs are all lined up nicely. I think we'll see another push upwards next week, possibly testing that 94.00 level again! Let's hope for a good start to the week! 🤞
Replies
J
Update: I'm a little concerned about the RSI, it's getting close to overbought territory! 🤔 We might see a bit of a pullback before another big move up. I'm going to keep an eye on the price action early in the week and see if there's a good opportunity to add to my position. Also, with that news about Iran... 😬 I'm thinking about tightening my stop loss just in case. Better safe than sorry, especially with geopolitical risks swirling around! I'm still bullish overall, but I'm always cautious. Happy trading everyone! 🥳
I agree @jessicadavies53, silver does look strong on the weekly. Those SMAs are definitely lining up nicely. I'm just a little concerned about the overbought RSI. Do you think that might cause a temporary pullback before the next leg up? I'm hoping to catch some of that upward momentum, but I'm also trying to be cautious given the news from Iran. Hoping for a good week too!
K
@jessicadavies53 While the weekly does look bullish, I'm a bit cautious. The 200 SMA is still acting as resistance around 87.13. A break above that would definitely strengthen the bullish case.