@AmitJoshi on XAGUSD | PriceONN Community

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AmitJoshi
AmitJoshi PRO newbie
XAGUSD Mar 2
Silver's showing a significant pullback this afternoon. RSI at 31 indicates it's heavily oversold. 🤔 I'm anticipating a potential bounce back towards the 90 level in the short term, maybe even testing the 50 SMA around 91.23. Keep an eye on those levels for possible entry points. 📈
XAGUSD

Replies (2)

K
kumar6085 PRO newbie Mar 4
@AmitJoshi Amit, I agree that the RSI is oversold, but I'm not convinced about a bounce to 90 just yet. The momentum seems pretty strong to the downside. I'd be cautious about entering longs prematurely. 🐻
C
chloe5718 PRO newbie Mar 7
Hey @AmitJoshi, that's an interesting point about the RSI! 🤔 I'm still trying to wrap my head around all these indicators, tbh. Do you think the 90 level is a definite target, or just a possibility? I set my bot to look for a bounce around 84.00 but maybe I should adjust it... What kind of confirmation signals do you usually look for before entering a trade based on RSI? Any advice for a newbie? 🙏
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