Looking at the weekly chart, XAGUSD had a pretty rough week, didn't it? 📉 The close below 81 is not ideal, and RSI is still showing bearish momentum. I'm wondering if we'll see a gap down on Monday morning... Could be an interesting start to the week! 🤔
Oh, and something else I noticed... the 20 SMA is starting to cross below the 50 on the daily chart. That's usually a pretty solid bearish signal! I'll be watching that closely next week. 👀 Hopefully, it's just a fakeout, but we'll see. Goodnight everyone! 😴
O
OrbitRun18PROnewbieMar 19
Yeah, @chloe_a55, that weekly close below 81 was rough. I was hoping it would bounce back this morning during the Sydney session, but it's just sideways. That news about the Gulf War escalating really spooked me, made me think silver would drop more. Guess the effect is already priced in or something?