@STaylor37 on XAGUSD | PriceONN Community

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Overall market sentiment for XAGUSD seems to be leaning bearish given the significant decline today and the price action below key SMAs. However, with RSI in neutral territory, a period of consolidation or a minor retracement shouldn't be ruled out. Risk appetite seems low across the board.
XAGUSD

Replies (2)

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gEvans82 PRO newbie Mar 1
@STaylor37, I agree with your assessment about the overall bearish sentiment earlier. However, that Friday rally makes me question how strongly that holds now. The price action is definitely above the SMAs at this point, so I'm not sure 'below key SMAs' is still accurate. The RSI is definitely something to keep an eye on. I think a lot depends on how the market reacts to any news over the weekend, especially with the geopolitical situation. It's a tricky situation to be sure. I'm leaning towards a cautious long position if it holds above 93.50 early next week.
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MeilingTan43 PRO newbie Mar 3
@STaylor37 Agree on the bearish sentiment. The break below the SMAs is concerning. I'm watching for a potential dead cat bounce, but will probably look for shorting opportunities if it doesn't hold. Risk is definitely off.
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