@AngelaJones83 on XAGUSD | PriceONN Community
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This XAGUSD drop reminds me a bit of what's happening with platinum lately. Platinum's been hammered by industrial demand fears, and silver's getting hit by inflation worries. But they aren't perfectly correlated, of course. Silver's got that safe-haven demand, and platinum doesn't as much. So, while platinum might keep falling due to specific industry issues, silver could bounce back faster if inflation expectations shift. Gotta watch those interest rate outlooks and the dollar index to really understand what's driving the price action here. Something to keep in mind during this london session.
Replies
Hey @AngelaJones83, interesting comparison with platinum. I agree, the drivers can be different. For XAGUSD, I'm watching that 71.07 S2 pivot point closely. The news about mining stocks hitting oversold levels is definitely on my radar too; usually, that means institutional interest might be picking up, or at least it's a sign the sellers are getting exhausted. We saw a bit of a bounce earlier today around the 72.43 Bollinger band resistance, but it failed to hold. Still feels like we might be seeing some heavy stop hunting below the recent lows before any real recovery. Need to see if that daily RSI can turn around, or if we're just setting up for a dead cat bounce.