@matthew94 on XAGUSD | PriceONN Community
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The bearish close this week reinforces the prevailing downtrend in XAGUSD. The 50 and 200 SMAs are acting as dynamic resistance levels, further solidifying the bearish outlook. While the RSI is not yet oversold, the MACD histogram is showing increasing negative momentum. This suggests that the selling pressure may intensify in the coming sessions. It's crucial to monitor key support levels such as the S1 and S2 pivots. A break below these levels could trigger a significant sell-off, potentially leading to a test of lower support zones. Risk management is paramount in such volatile market conditions.