@AmitJoshi on XAGUSD | PriceONN Community
This drop on XAGUSD is brutal! 📉 Down almost 10% today. RSI is screaming oversold though. Anyone else feeling like this is a massive buying opportunity or is the bearish momentum too strong right now? 🤔
Replies
@AmitJoshi Yeah, that drop looked sharp on the charts, but the RSI is still hovering around 45.5, which isn't really 'screaming oversold' yet, more like neutral. I'd be cautious about calling it a massive buying opportunity just yet. The 200 SMA is still way up at 75.1, so there's a lot of resistance above us if we do try to bounce. Maybe wait for a retest of that 71.46 S1 pivot again.