@david5941 on XAGUSD | PriceONN Community

This XAGUSD price action reminds me a lot of the setup we saw back in early 2020, right before the pandemic hit. We had a similar period of consolidation followed by a sharp decline due to uncertainty. If history repeats itself, we could see a significant drop below the current support levels. However, the market fundamentals are different now, with increased industrial demand potentially offsetting some of the bearish pressure. Still, I am cautious about entering long positions at the moment. I think it's prudent to wait for a clear breakout before making any major moves. A break below 84.5 would confirm the bearish scenario in my opinion.