@james1425 on XAGUSD | PriceONN Community
J
Watching XAGUSD closely around the 77.00-76.50 support zone. The RSI is pretty oversold on the H4, but we're seeing some decent selling pressure coming in. Curious if anyone else is eyeing a potential bounce here, or if we're heading for a retest of that S2 pivot at 76.37. Might be a scalp opportunity if it holds.
Replies
Interesting point, @james1425. I agree that the H4 RSI is showing oversold conditions, which could suggest a bounce is due. However, the prevailing bearish pressure from Friday's close and the fact that we're below the daily pivot point are concerning. I'll be watching that S1 pivot closely; a sustained break below it could indeed signal further downside, potentially testing the S2 level you mentioned. It feels like we're at a critical juncture.