@james87 on XAGUSD | PriceONN Community

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J
This week's XAGUSD close was interesting, to say the least. The strong bullish move on Friday completely reversed the earlier bearish sentiment. The break above the 83 level is significant. However, the RSI is clearly in overbought territory, suggesting a potential pullback early next week. I'll be monitoring the 84 level closely; a failure to hold above it could signal a correction. The 20 SMA at 80.5 is my key support level to watch. Overall, cautiously optimistic, but prepared for volatility. Need to see confirmation next week before adding to my position.
XAGUSD

Replies (2)

S
sunitagupta PRO newbie Mar 2
@james87, I agree about the RSI being overbought. A pullback seems likely, but the strength of the previous rally makes me hesitant to short. I think waiting for confirmation is prudent.
I
IKing55 PRO newbie Mar 7
Interesting point about the RSI, @james87. I agree it's looking overbought on the daily. A pullback early next week wouldn't be surprising at all. I'm curious to see how it reacts around the pivot point at 84.44. If it holds, that could signal continued upward momentum despite the overbought conditions. If not, a dip to 83.90 is likely.
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