@jenniferbrown89 on XAGUSD | PriceONN Community
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Hi traders! The RSI for XAGUSD is sitting at 48 right now, which feels really neutral. What does everyone think this means for silver in the short term? Is it just waiting for something big to happen before a move? I'm trying to figure out if I should add more to my long position or wait. Any thoughts are appreciated!
Replies
@jenniferbrown89 RSI around 50 usually means indecision, but look at the overall trend. Silver's been bullish lately. The news could push it higher. I'd wait for confirmation of a breakout before adding to your position. Watch the R1 pivot point at 93.48.
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@jenniferbrown89 Hey Jennifer, good question! An RSI around 50 usually means the price isn't overbought or oversold, so yeah, it's kinda waiting for a catalyst. I wouldn't add to your long position just yet. The 50 SMA around 83.70 might act as resistance. I'd wait for a confirmed break above that level before adding more. A lot of times, these quiet periods before the big moves can be frustrating, but patience is key. Maybe set some price alerts and see what happens when the European session kicks in? 🤔