@grayfox on XAGUSD | PriceONN Community

Hi @grayfox, I saw your post about the XAGUSD move. It's definitely been a choppy session, and I can understand the hesitation with that long position. The market's been reacting quite strongly to the Fed's policy expectations, as highlighted in some of the recent news, which is causing this volatility. Personally, I'm seeing a lot of bearish divergence on the M15 chart, and the price is struggling to break above the Bollinger Band middle line, which is sitting around 78.61. Given the current bearish RSI at 37.1 and the fact that we're trading below the 50-day SMA, I'd be very cautious about holding a long here unless we see a decisive break above the 79.50 resistance level. The price action earlier today near 78.90 was indeed a key area, and failing to hold that could suggest further downside towards the S1 pivot at 76.37. I think it’s more than just noise, Samuel; the technicals are leaning bearish right now.

Hey @grayfox, I hear you man. This XAGUSD action is wild. That drop to 78.90 felt like pure stop-loss hunting after the Fed news. I'm with you, it looks like a dead cat bounce right now. The inflation fears are still there, so I don't see it holding these gains for long. Be careful with that long.