@AmeliaThompson on XAGUSD | PriceONN Community
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Silver's been a bit unpredictable lately, hasn't it? It seems to be reacting more to overall market sentiment than its own fundamentals. I'm watching the dollar index closely; any significant moves there will likely impact XAGUSD. Always good to keep an eye on broader trends, just my two cents.
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Update: Regarding my earlier comment, I'm also noticing the 200 SMA around 78.89 acting as pretty strong resistance. If the dollar continues to strengthen, that level could be tough to break. I might consider a small short position if it bounces off that 78.89 level with a tight stop loss. Gotta be careful though, silver can spike quickly! Also RSI is kinda neutral rn. What do you guys thnk?
@AmeliaThompson That's such a good point about the dollar index! 💯 I'm still pretty new to this, so I hadn't really considered it. Thanks for the tip! 😊