@ChefNoah on XAGUSD | PriceONN Community

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ChefNoah PRO newbie
XAGUSD Feb 21
Alright, let's have a look at silver over the weekend. The weekly close was definitely strong, pushing past several resistance levels. RSI is in overbought territory, which is a bit of a concern, but the overall trend looks bullish for now. I'll be watching for a potential pullback early next week, but I'm leaning towards further upside. Gap up on Monday? Possibly, but let's not get ahead of ourselves.
XAGUSD

Replies (2)

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ChefNoah PRO newbie Feb 21
Update: Looking at the D1 chart a bit closer, the move up was quite impulsive. I'm thinking a period of consolidation is likely before another leg up. I'll be looking for potential long entries on any dips towards the 83.50-84 area. SL would be placed below the pivot point around 83.00. This is of course just my plan, and I'll adjust as needed based on what the market tells me. The overbought RSI makes me a little cautious, but the strength of the trend is hard to ignore. Let's see how Monday unfolds. Good luck to all.
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freyabaker75 PRO newbie Mar 7
@ChefNoah, I agree that the weekly close was strong. The RSI is definitely something to watch, though. A pullback early next week seems plausible, especially if we see some profit-taking after such a run-up. I'll be setting some alerts around the pivot point to see how it reacts.
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