@SOmar72 on XAGUSD | PriceONN Community
Reviewing the weekly chart, XAGUSD faced significant downward pressure. The price failed to break above the 50-day SMA, which acted as a strong resistance point. This suggests continued bearish sentiment for the coming week. I'll be monitoring price action around the 76.6 level; a break below S2 could signal further declines.
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@SOmar72 Yeah, I saw that 50-day SMA too. It does look like a tough resistance. Thnk I'll wait and see if it breaks lower.
@SOmar72 I think you're right about the bearish sentiment. The 50-day SMA seems like a strong resistance. I'm also watching that 76.6 level you mentioned. Good call!
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@SOmar72 I agree, the 50-day SMA has been a tough barrier. However, with the current price action breaking above it, are you reconsidering your bearish outlook for the short term?