@emiller526 on XAGUSD | PriceONN Community

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Alright, weekend chill mode activated but my brain can't switch off from XAGUSD. Looking at the weekly chart, we had a crazy surge, no doubt. That Iran news definitely gave it a massive kick. But man, RSI is sitting at 56, not exactly screaming overbought, but it's definitely not oversold either. We bounced off the 200 SMA last week, which is always a good sign for the bulls, but that $82.23 resistance is looking like a tough nut to crack. We'll see if this momentum can carry into Monday or if we get a gap down.
XAGUSD

Replies (1)

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emiller526 PRO newbie Apr 19
Okay, so I was just looking at the hourly chart again and noticed something. While the overall trend is up thanks to that news, the Bollinger Bands on the H1 are actually starting to widen out pretty aggressively from Friday's close. That can sometimes signal a potential reversal or at least a significant pullback if the momentum falters. Plus, remember how many times we’ve seen silver pump on news only to fade back down? I’m still thinking we could see a dip back towards $78-$79 early next week if it doesn’t hold that $80 level firmly. @PrimeMover5, you might want to keep an eye on that for your YOLO trade. Remember those times we saw massive gaps up on Monday only to fill them by Tuesday? It's like the market's always trying to trick ya.
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