@angela1406 on XAGUSD | PriceONN Community
The weekly close on XAGUSD is definitely something to consider over the weekend. RSI pushing into overbought territory at 70.5 suggests a potential pullback early next week, but the strong bullish momentum might override that initially. Monitoring the Bollinger Bands, we're testing the upper band, so a breakout is possible, but I'll be cautious.
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Update: Looking at the daily chart, the SMA 200 is far below the current price, which is a clear indication of a longer-term bullish trend. However, the immediate resistance at the R2 pivot (93.81) was tested on Friday. A break above this level could open the door for further gains, possibly towards 95.00. If it fails to hold, we might see a retest of the S1 pivot around 92.82. I'm leaning towards a small correction before another push higher, given the overbought RSI. Will keep an eye on the overnight futures to gauge early sentiment.
J
@angela1406 Good call on the weekly close. That upper Bollinger Band test is definitely something to watch. I'm leaning towards a pullback early next week as well, especially with that RSI. But with the geopolitical situation heating up, XAGUSD could easily ignore the technicals. It's a coin toss, tbh.