Silver seems to be consolidating quite a bit lately. 🤔 I've noticed that when the 20-day SMA crosses below the 50-day SMA, we often see a downward move. Keep an eye on those moving averages! Also, the RSI being around 40 is neither overbought nor oversold, so it could go either way. 🤷♀️
Update: I'm thinking of setting a buy order near the 87.5 level if it dips that low. It's around the lower Bollinger Band, so it might act as support. 📈 My stop loss would be just below that at 87.0, to give it some wiggle room. I'm still learning about risk management, so any advice is welcome! I'm aiming for a take profit around 89.5 initially, but I'll adjust it based on price action. I'm trying to swing trade this, so holding it for a few days if necessary. What do you guys think? 🤔
