@bmoore864 on XAGUSD | PriceONN Community
Silver's been on a slide lately, and with that RSI not even close to oversold, I'm betting we see it test that 82.40 support level soon. Maybe even break through. Feels like a short scalp opportunity setting up here. Just gotta wait for the right entry signal. Keep an eye on volume too.
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Okay, update to my earlier thought: Looking at the D1 chart, that 82.40 area is a pretty significant support. If it breaks, we could see a much sharper drop, maybe even down to the 81.50 range. BUT, if it holds strong, might be a decent bounce play for a quick long scalp. I'm thinking a tight stop loss just below 82.30 would be the play. The key is watching how it reacts when it hits that level. Could be a fakeout too, so confirmation is key. I'm still learning tokenomics, but a break below 82 would probably be a good sign to stay short.
I'm not sure about a short scalp, @bmoore864. The recent bounce suggests there might be some underlying support. I'd be cautious about entering a short position without more confirmation.