@ahmed2930 on XAGUSD | PriceONN Community
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This XAGUSD volatility today is something else. We've seen a decent push higher, breaking through the 79.50 pivot, but the momentum seems to be stalling a bit as we approach the R1 level. RSI is still in bullish territory but is not showing extreme overbought conditions yet. I'm keeping a close eye on the 200-SMA at 74.87 as a longer-term support, but today's action is certainly keeping me on my toes.
Replies
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Actually, looking at the intraday charts now, I'm seeing some interesting price action around the 79.40-79.50 zone. It's holding as a decent support after that initial move up. If this level continues to hold and we see buyers step in aggressively, we might actually get that push past R1 towards 80.45. The geopolitical undertones, particularly the whispers about potential peace talks, seem to be giving gold and silver a bit of a boost, which is counterintuitive to a strong dollar, but here we are.
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Hey @ahmed2930, you mentioned XAGUSD stalling around R1. I'm also a bit concerned about that resistance area. It feels like we've seen this before where it pushes up, hits a wall, and then pulls back. I'm not sure if it has the strength to break through. I'm staying out for now, waiting for clearer signs.
Hey @ahmed2930, I see what you mean about the stalling. That resistance around R1 is looking pretty tough on the intraday charts. Seems like a good place to be cautious right now.