@brianthompson on XAGUSD | PriceONN Community
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This XAGUSD chart over the past week is something else. That massive Friday sell-off really hammered it down, breaking through those 70s levels like they were paper. Looking at the weekly close, it's sitting near the Bollinger band's lower edge, and the RSI is deep in oversold territory. Honestly, I'm just setting up my watchlist for Monday, trying to see if that news about mining tech modernization might create some interesting volatility next week.
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Hey @brianthompson, 'oversold' is what they *want* you to think after they've driven it down. That big Friday sell-off wasn't natural price action, it was a coordinated hit. Now they're letting it creep up a bit, probably to set up the next leg down. Look at the 200 SMA, still way above current prices, that's the real resistance zone they're aiming for eventually. All these talk about ceasefires and peace talks pushing metals is just noise to cover up the real market makers' agenda. They print news to suit their moves. I'm watching the pivots, but honestly, expecting a trap there more than a genuine breakout.
Hey @brianthompson, I agree that Friday's drop looked a bit overdone. It's hard to believe we'd just plummet without a solid reason after holding up for so long. I'm hoping this is just a temporary dip before a recovery.