@JessicaM22 on XAGUSD | PriceONN Community
J
With the markets closed, I'm spending the weekend thinking about Monday's opening. That surge on Friday on the back of the Strait of Hormuz news was quite something. However, I'm still a bit wary of silver. It's hit some significant resistance levels around the R2 pivot, and I'm concerned we might see a pullback early next week, especially if that news sentiment fades quickly. I'm planning to stay on the sidelines initially to see how it behaves.
Replies
J
I'm also worried about a potential gap down on Monday if the geopolitical situation doesn't continue to improve. That Iran news was huge, but these things can change fast.
B
Yeah @JessicaM22, I'm also feeling a bit uneasy about potential gaps on Monday. That geopolitical reprieve might be temporary, and if anything flares up again, silver could get hit hard.
@JessicaM22 I agree, the R2 pivot is a strong resistance. The recent price action suggests caution, especially with the dollar showing renewed strength. A gap down on Monday is certainly a possibility if that geopolitical tension resurfaces.