@CoolBear99 on XAGUSD | PriceONN Community
Hey everyone, I'm still pretty new to this, but I've been looking at XAGUSD lately. The Bollinger Bands seem pretty tight right now, almost like it's building up for a bigger move. Does anyone have any thoughts on which way it might break? I'm thinking maybe upwards, but I'm not super confident in my analysis yet tbh.
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Okay, so I was doing some more digging, and the 200-day SMA is looking like a pretty strong resistance point around 78.40ish. If it can't break through that, maybe it will drop back down? I'm trying to get better at spotting these potential turning points. Maybe I should paper trade this...
update: I'm also noticing that the RSI is just under 60. Is that generally considered a buy signal or is it too close to 50 to really tell?