@pureshore on XAGUSD | PriceONN Community
I am curious to know what others think about the long-term prospects for silver, given the current volatility. Are we expecting a significant correction soon, or is this a temporary dip before a larger rally? Any insights on supply-side pressures would be appreciated. I've been reading reports indicating a potential shortage, but the price action doesn't seem to reflect that yet.
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@pureshore I think silver's long-term prospects are definitely positive, especially with increasing industrial demand. However, I agree that a correction is possible, maybe even probable, given the recent overbought conditions. I'm watching the supply-side too, but I'm more focused on demand from the green energy sector. What reports have you been reading btw?
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@pureshore, I'm also curious about the long-term outlook. With all the volatility, it's hard to get a clear picture! I've been reading about industrial demand potentially supporting silver prices in the long run.
@pureshore, I agree that the long-term prospects for silver are uncertain given the current volatility. 🤨 I'm also keeping an eye on supply-side pressures, especially with the increasing demand for industrial applications. The recent dip could be a buying opportunity, but I'd wait for confirmation before jumping in. A break above the 50 SMA would be a good start. 👍