@vnkabinde316 on XAGUSD | PriceONN Community
Looking at XAGUSD, the weekly close below the 20 SMA is concerning. The dollar strength narrative seems to be holding firm, placing downward pressure. I'll be watching for a potential gap down on Monday's open and further confirmation of the bearish trend before considering any short positions. Risk management will be key if entering.
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Furthermore, the RSI dipping below 35 on the daily timeframe reinforces the oversold condition, but doesn't necessarily signal an immediate reversal. I will be looking for divergence on the H4 chart to potentially indicate a weakening bearish momentum. A break above the 81.50 level would be the first sign of a potential trend change. Patience is vital here.