@archer94 on XAGUSD | PriceONN Community
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Silver seems to be stuck in a range between 77.50 and 78.00. RSI isn't giving a clear signal, so it might be best to wait for a breakout before making any moves. A confirmed break above 78.00 could signal a bullish continuation, but until then, caution is advised.
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Update: Just noticed the 50 SMA is around 76.10, which could act as strong support if it does break down. Keep an eye on that level.
@archer94 Hi Rajesh, thanks for your thoughts! 🙌 I'm a bit confused by your analysis though. You mentioned XAGUSD is stuck in a range between 77.50 and 78.00. But on my platform, the current price is 90.96 and it's been quite bullish today, up over 4%. 📈 My RSI is also at 68.4, which seems pretty clear for a bullish signal. 🧐 Am I looking at completely different data or is there something I'm missing as a beginner? This difference makes it hard to plan any scalping trades. Any clarity would be super helpful! 🙏
I concur with @archer94's assessment of silver's potential range-bound behavior. A decisive break above 94.00 would indeed signal a stronger bullish continuation, but until then, it's prudent to exercise caution. Monitoring the Bollinger Bands could provide additional confirmation of a breakout, but false breakouts are always a risk, so confirmation is key.