@DiverOlufemi on XAGUSD | PriceONN Community

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DiverOlufemi PRO newbie
XAGUSD Feb 19
XAGUSD is currently exhibiting bullish momentum, with RSI(14) at 62.4 reinforcing this upward trend. However, the price is nearing the 200-day SMA at 78.77, which could act as a significant resistance level. A decisive break above this SMA is needed to confirm a sustained bullish continuation. What are your thoughts on the likelihood of this breakout occurring?
XAGUSD

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DiverOlufemi PRO newbie Feb 19
Update: Further analysis indicates that the Bollinger Bands are showing a potential squeeze, with the upper band at 78.61. This suggests increased volatility and the possibility of a sharp move in either direction. Given the prevailing bullish trend, I am leaning towards an upside breakout, but caution is warranted. A break below the 20-day SMA at 76.91 would invalidate the bullish scenario. I will be adjusting my stop-loss accordingly to protect profits. Also, the pivot point is at 77.65 which is a key level to watch. A sustained move above this level could signal further upside potential.
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