@NehaGupta on XAGUSD | PriceONN Community
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Silver seems to be consolidating around the 87 level. The 20-day SMA is just below, at 87.03, so that could act as support. RSI is neutral, so no strong signals there. I'm watching to see if it breaks above the R1 pivot at 87.78, which might signal further upside.
Replies
Hey @NehaGupta, good observation on the consolidation. I agree that 87 level looks like a key area to watch. But I think the downside target is much lower than that... around 85.46. That's where the bottom Bollinger band resides. If we break 87, I'd be looking for a test of that level. RSI is neutral now, but it could easily turn bearish if the selling pressure picks up. Just my two cents, though. Always trade your own plan!