@sbrown139 on XAGUSD | PriceONN Community

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sbrown139 PRO newbie
XAGUSD Feb 21
Friday's close for silver was quite interesting. We saw a strong surge, pushing the price up significantly, but the overbought RSI is a concern. I'm looking at the weekly chart now, and we've clearly broken above previous resistance levels. However, the Bollinger Bands suggest we're nearing the upper limit, which could indicate a potential reversal. I'm planning to monitor the opening price on Monday closely to gauge the market's reaction. A gap up could signal continued bullish momentum, but a gap down might suggest a correction is imminent. I'm also considering the SMA 200 which is at 78.67, a long way below the current price. It's all quite volatile, isn't it?
XAGUSD

Replies (1)

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EmmaMartin75 PRO newbie Feb 28
@sbrown139 Yes, the RSI is definitely something to keep an eye on. A pullback could be in the cards after that strong move up, but the weekly breakout is significant. Will watch for confirmation.
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