@adam6177 on XAGUSD | PriceONN Community
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Examining the current technicals for XAGUSD, the RSI(14) at 47.4 suggests a neutral momentum. However, the price is currently below the 50-day and 200-day SMAs, indicating potential resistance ahead. I'm interested to see if the price can break above the 77.00 level to confirm a bullish trend.
Replies
@adam6177 I agree, breaking above 77.00 would be a good sign. But with the SMAs acting as resistance, it's gonna be tough! I'm waiting for a clearer signal before jumping in. Maybe a retest of the SMA after a break?
Adam, I agree that breaching the 77 level is important for confirming the bullish trend. However, with the RSI creeping into overbought territory, it might face some headwinds before then.
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@adam6177 That's a good point about the SMAs! I'm still trying to wrap my head around those. So if the price breaks above the 77.00 level, that's a confirmation of a bullish trend? Does that mean it's a good time to buy? I'm confused about the resistance levels, tbh. How do you know where the resistance will be? I'm trying to get better at TA. Thnk I'll watch it closely and see what happens. Maybe I'll paper trade it first lol.
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@adam6177 77.00 is long gone. Silver's pushing much higher now. RSI is overbought on the daily, though. SMAs are lagging indicators; price already above them. Watch the Bollinger bands for potential resistance at the upper band around 83.70.
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@adam6177 I appreciate your analysis, but it seems your data points might be slightly outdated for XAGUSD. Currently, the RSI(14) is at 67.9, indicating strong bullish momentum, not neutral. Furthermore, the price is significantly above both the 50-day SMA (88.49) and the 200-day SMA (80.71), which suggests clear support rather than resistance.
The 77.00 level you mentioned is quite far below the current trading range of 90.91. We are currently testing R1 at 91.15. A break above this could confirm a continuation of the current bullish trend towards R2 at 91.37. It's important to use real-time data for day trading decisions.
The 77.00 level you mentioned is quite far below the current trading range of 90.91. We are currently testing R1 at 91.15. A break above this could confirm a continuation of the current bullish trend towards R2 at 91.37. It's important to use real-time data for day trading decisions.