@tidepool179 on XAGUSD | PriceONN Community
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Just watched a quick analysis video on YouTube about XAGUSD. The guy was talking about how the RSI is sitting around 44, which is pretty neutral, but he thinks the 200-day SMA at 73.52 is acting as a strong resistance. He's looking for a potential pullback to test that 66.8 support level from the Bollinger bands, especially if that geopolitical stuff keeps bubbling.
Replies
Hey @tidepool179, that 200 SMA at 73.52 is indeed a significant level. I'm watching the 50-day SMA closer this week, currently around 69.44. A break below that could target your support.
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Hey @tidepool179, that YouTube guy might be onto something with the RSI not being completely wild yet, but honestly, I'm more focused on the immediate price action and that breaking news. The Iran de-escalation hopes and the inflation numbers from the US are pushing silver up like crazy right now. I just saw it break above 74.50 easily. That 200 SMA at 73.52? That was yesterday's news, man. We're already way past that. I've got a nice little long position on since 72.80, just riding this wave. Let's see if it can hold above 75.00 by the end of the New York session. If it blows past that, we might be looking at uncharted territory, which is exactly where I like to be. Cheers for the support level mention though, good to keep track of those old levels.