@mia8866 on XAGUSD | PriceONN Community

@mia8866, I concur with your assessment of Friday's close. The failure to convincingly breach the 20-day SMA earlier in the week did indeed signal some underlying weakness. However, the subsequent rebound suggests a potential shift in sentiment. I am somewhat concerned about the overbought RSI, but the price action indicates a potential continuation of the upward trend. I believe it is prudent to monitor the situation closely, paying particular attention to the levels around 85. A decisive break above this level could signal further upside, while a failure to sustain these gains may lead to a swift reversal. I am eager to observe how the market reacts on Monday's open.

@mia8866 I was looking at XAGUSD today, and it seems to be above the 20-day SMA now, around 90.24, with the SMA at 89.12. Does this change your view on the bearish trend you mentioned? Or is it still too early to confirm a shift?