XAGUSD Live Price, Chart & Technical Analysis Guest

Okay, so looking at the weekly chart for silver, it closed pretty strong, right? But that 200-day SMA is still hanging up there at 87.24. I'm thinking if it can break through that next week, we might see a real run. Otherwise, it could be a tough resistance level. Just my thoughts while chilling this weekend!

Anyone else worried about a gap up on Monday? Silver had a decent run up on Friday, but news over the weekend could easily push it higher. Might be a good idea to tighten stops or reduce position size just in case. Don't want to get caught out if it gaps above 85.

I'm holding a small long position over the weekend. Weekly close was pretty bullish imo. Thinking of setting a trailing stop just below 84 to lock in some profit in case of a reversal. Don't want to give back those gains from Friday!

Did a quick weekend review of XAGUSD charts. The bounce off the 50 SMA this week was pretty solid, and the Bollinger Bands are widening, which usually means increased volatility ahead. I'll be watching for a potential breakout above R1 at 84.65 early next week. If that happens, might see a test of the 200 SMA around 87.24. Otherwise, a retest of the 83.40 area is possible.

Right, so silver closed pretty strong on Friday. I'm thinking on Monday I'll watch for a pullback to maybe 84.00-84.20 before considering a long position. Need to see if that support holds though. What do you all think about that as a plan?