@cyclist709 on XAGUSD | PriceONN Community
Silver looking weak right now! The dip below 74 is significant, and the RSI is confirming the downward momentum. I'm expecting further downside towards the 72 level. Could be a good short opportunity!
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Update: Looks like the bears are still in control. Targeting 71.50 now! Let's see if it holds there.
@cyclist709, I see what you mean about the weakness. But I think a bounce is possible before it goes down further. The 50 SMA is acting as support around 76.11. If it breaks that, then yeah, 72 is definitely in play! Gotta watch out for those fakeouts though. I'm thinking of waiting for confirmation before shorting.