@O_Oluwole on XAGUSD | PriceONN Community
XAGUSD's current price action at 86.93 appears to be in a consolidation phase. The RSI(14) is at 48.5, confirming the neutral sentiment. I'm observing the price trading between the 20-SMA at 87.53 and the 50-SMA at 86.65. What are others' thoughts on the potential for a breakout from this range, or continued sideways movement?
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update: Adding to my previous point, the lower Bollinger Band at 86.35 aligns closely with the 50-SMA, forming a rather robust support confluence. If XAGUSD decisively breaks below this 86.35-86.65 zone, particularly with increased volume, it would strongly suggest a bearish continuation. Otherwise, I expect further range-bound activity.