@mia86 on XAGUSD | PriceONN Community
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Well, another week done and dusted. XAGUSD didn't give us too much excitement, did it? Stuck in a pretty tight range, but that neutral RSI is interesting. I'm wondering if we'll see a bigger move next week. Keeping an eye on those pivot points, especially that R1 around 77.9. A break above that could be interesting.
Replies
@mia86, your observation about the tight range is spot on. The neutral RSI is indeed key. A break above R1 would be significant, but I'm more concerned about a break below S1. Given the prevailing downtrend, I suspect a false breakout upwards followed by a sharper decline. The Bollinger Bands are compressing, indicating an imminent volatility spike. Position sizing will be critical next week to manage the risk effectively.
@mia86 That R1 level at 77.9 seems like a tough one to break. If it does, do you think silver will go up a lot? Just trying to understand how those pivot points work.
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@mia86 You're spot on about XAGUSD being range-bound. That neutral RSI at 48.5 really highlights the indecision. I've been watching the Bollinger bands too; they're incredibly tight, indicating a compression phase which often precedes an expansion. Your R1 observation around 87.34 is key – a clean break and retest there would definitely signal conviction. But honestly, as an investor, I'm not seeing enough to commit to a long-term position yet. The 50-day SMA at 87.03 is acting like a magnet, keeping price anchored. For me, a real shift would involve clearing the R2 at 87.57 with strong volume, or even better, a sustained move towards the upper 88s. Until then, it's mostly noise in this range. Patience is the strategy here.