@harperlewis20 on XAGUSD | PriceONN Community

Hi @harperlewis20, I see your point about the dollar's influence and the potential test of the 79 level. It's definitely a significant area to watch, especially with the recent bearish close mentioned by Noah. However, I'm also considering the news from about silver falling to $78.94. That feels like a strong bearish signal. If we break below 79 decisively, it might be more than just a test. The RSI is sitting right at 50, which isn't giving much conviction either way. I'm hesitant to go long unless we see a clear rejection of lower prices or a significant shift in the fundamental narrative, perhaps related to the Iran situation mentioned in the news which is usually a tailwind for precious metals. I'm leaning towards caution for now.

Hey @harperlewis20, totally agree about the dollar's influence. It's been a major driver for XAGUSD lately. The 79 level is definitely a key support zone. I'm seeing the 200 SMA is still a bit higher around 84, so if we do dip to 79, that could be a strong confluence for a bounce. Personally, I'm looking for a clean break and retest of resistance before considering any long positions though. Aggressive entries are too risky with this dollar strength. What are your thoughts on the RSI? It's hovering around 50, which is pretty neutral, but could flip fast. Need to see that dollar index start to falter first.