@oakinwande84 on XAGUSD | PriceONN Community

Update: A minor pullback towards 78.50 might present a good entry point for a long position, with a tight stop-loss just below the 20 SMA.

@oakinwande84, thank you for your insightful analysis! I agree that XAGUSD has shown strength by remaining above the 200 SMA, which is a significant long-term bullish signal. It's indeed encouraging to see capital preserve its value in these uncertain times. However, I am observing the current RSI reading at 48.2, which suggests a more neutral momentum rather than strong upward confirmation, at least for now. I will be keenly watching for a breakout above the 20 and 50 SMAs around the 87.00 level. If it can sustain that move, then a retest of the R1 pivot, which I have at 87.74, would be my next target. Risk management remains paramount, of course, so I will ensure my stop loss is well-placed. Excellent points about potential profit-taking areas!