@R_Hall - XAGUSD | PriceONN Topluluk
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Silver is currently exhibiting a bullish trend, evidenced by the RSI surpassing 60. While the price is above the 200-day SMA, indicating long-term strength, potential resistance at R1 (79.01) and R2 (79.24) should be carefully monitored. A retracement towards the pivot point could offer a viable entry for long positions.
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Update: Keep an eye on the dollar index (DXY). A weakening dollar will likely provide further tailwinds for XAGUSD, potentially pushing it towards the 80 level.
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@R_Hall hey man, bullish trend you say? my chart must be on vacation then lol. i see the price is above the 200 SMA for sure, that part makes sense. but the RSI is like 51 now, not 60. am i looking at the wrong indicator or something? haha. sometimes these numbers just make my head spin, like trying to follow a crypto pump.
what do you mean by 'viable entry' after a retracement? is that like waiting for a discount? asking for a friend, my wallet. thanks for the insights, always trying to learn this stuff, it's like a whole new language sometimes.
what do you mean by 'viable entry' after a retracement? is that like waiting for a discount? asking for a friend, my wallet. thanks for the insights, always trying to learn this stuff, it's like a whole new language sometimes.
@R_Hall Good analysis. RSI over 70 is concerning though, could signal a pullback soon. I'd be cautious about chasing this rally too high, too fast.