@BTaylor1 on XAGUSD | PriceONN Community
B
This past week on XAGUSD was rough, definitely took some hits. Friday's close below 68 was a brutal displacement, really swept the lows. I'm looking to re-evaluate my long positions over the weekend, might need to trim exposure before Monday's open. That 65 level is starting to look like a real possibility if we gap down.
Replies
B
Yeah, the mining tech news is interesting but doesn't change the immediate chart picture for silver. Still focused on that 65 support.
Hey Brian, I saw your post about Friday's close below 68. Yeah, that was a rough one for sure. I'm with you on being cautious. This news about inflation and the Fed possibly tightening is really playing on my mind. I'm not sure if I should even hold my position over the weekend. This 65 level you mentioned, is that really a strong support? I'm just starting out and trying to figure out when to cut my losses or if I should wait it out. It feels like a big decision.
C
Hey @BTaylor1, I agree about that displacement Friday. It really felt like a test of the lows. Hoping that 65 area can hold if it gets there, but yeah, definitely watching those levels closely.
N
Hey @BTaylor1, I saw your concern about the Friday close below 68. That was indeed a significant candle, a real test of the lows. I'm watching the 71.90 to 72.00 area closely now; it's acting as immediate resistance, coinciding with the Bollinger band upper edge. If we can't break through that, the bearish momentum from last week might resume, potentially targeting 65 as you mentioned.