@JustinP84 on XAGUSD | PriceONN Community
J
Silver's downtrend is fairly well-established. The price action below the major SMAs confirms the bearish sentiment. I'd be cautious about chasing the downside too aggressively though, a correction is possible. Keep an eye on the RSI for oversold signals and potential reversal areas.
Replies
Hi @JustinP84! I totally see what you mean about a downtrend but XAGUSD is really flying high today, like it jumped from 87 to 90.58! It feels super bullish right now, not bearish at all. Do you think this current strong upward move is just a 'correction' within a bigger downtrend? It's all so confusing for a newbie like me haha but also exciting!