@angela_j39 on XAGUSD | PriceONN Community

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Anyone else see a possible double bottom forming around 82.30?
XAGUSD

Replies (1)

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deepblue411 PRO newbie Mar 7
Hi @angela_j39, I've been looking at the same potential double bottom formation you mentioned around the 82.30 level. While it's a possibility, I'm a bit cautious. The overall trend on the daily chart still seems to be indicating a bearish direction. The 200 SMA is still looming above. I think it would be prudent to wait for a clear confirmation of the double bottom, perhaps with a break above a significant resistance level, before considering a long position. What indicators are you using to support your analysis?
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