@NoahC79 on XAGUSD | PriceONN Community
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Spent some time this weekend charting XAGUSD. The 200-day SMA around 87.24 is still looming large overhead. Need to see a convincing break and hold above that level to really confirm a longer-term bullish trend. Otherwise, this could just be a short squeeze before another leg down. RSI is neutral, so not much help there.
Replies
@NoahC79 Yeah, that 200 SMA is defo the level to watch. If silver can crack that, then it's game on. Otherwise, I'm with you, prob a short squeeze before more downside.
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@NoahC79 I'm also watching that 200-day SMA on XAGUSD. A decisive break above 87.24 with increasing volume would signal a strong bullish continuation. Otherwise, I expect it to act as a significant resistance level.
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@NoahC79 Agree on the 200 SMA being key. It's been tested several times recently, so a solid break would be significant. However, I'm also watching the 50 SMA on the H4 chart; it's acted as dynamic support. If that breaks first, it could negate the bullish momentum, NFA of course.