@BThompson60 on XAGUSD | PriceONN Community
B
Looks like XAGUSD took another hit this week, closing near 80.50. RSI is definitely oversold on the daily, but with the dollar strengthening, I'm hesitant to call a bottom just yet. Might see a dead cat bounce early next week, but I'm expecting further downside if the dollar continues its rally.
Replies
B
oh and one more thing, keep an eye on those moving averages. The 20 and 50 SMA are still trending down, acting as resistance above. would need to see a clear break above those before i get too bullish on silver.
Good points, @BThompson60. That dollar strength is definitely a major headwind for XAGUSD right now, even with the oversold RSI. I'm also watching those SMAs closely; they're acting like a ceiling. A dead cat bounce is very possible early next week, but I'm not convinced we've seen the final bottom unless the dollar starts to falter significantly. Waiting for a clearer signal.