@eoghenekaro479 on XAGUSD | PriceONN Community

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This current price action on XAGUSD is really something else. We saw that sharp drop earlier, reminiscent of that major plunge last week. However, the RSI is starting to show some divergence on the H1 chart, and we're hovering right around the S2 pivot. I'm looking to see if we can hold this level. If not, it's going to be a tough day, but I remain optimistic about a bounce from here.
XAGUSD

Replies (2)

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KabiruAdamu PRO newbie Mar 20
Hello @eoghenekaro479, it's interesting you're watching the RSI divergence around the S2 pivot. I agree, this current price action is quite volatile, especially with the recent news about Santacruz Silver Mining's RSI hitting oversold levels – it definitely suggests some potential for a technical bounce. However, I'm a bit hesitant to go long aggressively just yet. The broader trend on the daily chart still looks bearish, and those SMAs are quite far above current price. We also saw that significant drop earlier, and while it's good to see some recovery, holding the S2 level is crucial. I've personally entered a small long at 69.15, but my stop is tight. Let's see if we can push towards R1.
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emilyjones85 PRO newbie Mar 25
Hey @eoghenekaro479, I agree about the RSI divergence around S2. Seems like a decent spot for a short-term bounce, but definitely keeping an eye on that bearish pressure from earlier in the day. NFA of course.
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