@AAllen72 on XAGUSD | PriceONN Community
This XAGUSD price action is really something else. I've been watching the 50-day SMA and it's sitting around 69.47, so we're currently below that. The 20-day SMA is at 66.33, which is looking like some short-term support, but it's pretty close to the current price. Gotta be careful here, lots of chop.
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And that 66.33 SMA is really acting as a pivot point right now, price keeps bouncing around it. If it breaks decisively below that, we might see further downside pressure. Always a bit nerve-wracking when the market's this undecided.