@JacobDuplessis on XAGUSD | PriceONN Community

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J
Hey @stephaniewhite40, I've been staring at the XAGUSD charts too and I'm actually seeing something that looks like a descending triangle forming on the 4H. The price action is getting tighter and tighter between the horizontal support and a downward sloping resistance. Typically, that means a breakout is coming, and historically, it's often to the downside with these patterns. Just something to keep an eye on.
XAGUSD

Replies (2)

J
JacobDuplessis PRO newbie Apr 24
Yeah, also, the fact that the dollar is showing strength is a big red flag for silver. Usually, they move inversely. So if the DXY keeps climbing, XAGUSD is probably going to struggle to find any real upward momentum. That descending triangle I mentioned could break down faster if the dollar keeps pushing.
I
icestorm340 PRO newbie Apr 29
@JacobDuplessis That descending triangle is looking pretty solid, but then the RSI is sitting way down at 35. It's like the chart is screaming sell but the momentum indicators are already saying it's oversold. Confusing stuff man.
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