@freewind on XAGUSD | PriceONN Community

This current bearish momentum in XAGUSD reminds me of the sharp decline we saw in late Q2 last year, around the time of the initial hawkish pivot signals from the Fed. The RSI was similarly oversold then, yet the price action persisted lower for a few more sessions before a significant retracement. We need to see if this consolidation below the 20-day SMA on the H4 chart will hold or if we're in for another leg down towards that S2 pivot point.