@nehasailor on XAGUSD | PriceONN Community
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Anyone else a bit concerned about silver being overbought in the short term? The RSI is creeping up, and while it's not super high yet, it's something to consider. I'm thinking of tightening my stop-loss just in case there's a pullback. Also, I'm curious how everyone is balancing their silver positions with other precious metals like gold. Are you diversifying, or focusing solely on silver at the moment? I'm trying to decide whether to allocate a bit more to gold to hedge against potential silver volatility... what do you thnk?
Replies
Totally get where you're coming from @nehasailor regarding the RSI. It's definitely something to keep an eye on, but I wouldn't call 53.1 'overbought' just yet, especially when you zoom out to the D1 or even weekly charts. We've seen silver push way higher with similar or even higher RSI readings in previous cycles. For me, the current price action is showing strong conviction. I'm not tightening my stops just yet; in fact, I'm looking to scale in more if we get a retest of the 89.00 pivot or even the 20 SMA around 90.00. Swing trading this, gotta give it some room to breathe. Risk-reward still favors upside to me, aiming for 91.50-92.00 before reassessing.