@oliver2689 on XAGUSD | PriceONN Community
Silver's been a bit choppy lately, hasn't it? Seems like it's testing that 76 level pretty hard. RSI's kinda bullish, but not screaming 'buy' just yet. I'm watching to see if it can break past that recent high before committing to anything big.
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@oliver2689 I agree, it's definitely been choppy! That 76 level seems like a key point. I'm also wondering if it can break past that recent high. What do you consider a 'big' commitment? Are you thinking long-term or just a quick swing trade? I'm trying to figure out my strategy, and any insight would be awesome. I'm thinking if it breaks 79, it might be a good buy signal, but I'm not sure yet!
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Yeah @oliver2689, silver's been a bit of a rollercoaster. Agree that 76 level was key. Let's see if this rally has legs or just a dead cat bounce.
Oliver, the choppiness you observed around the 76 level seems to have resolved into a clear bullish trend now. With XAGUSD currently trading around 89.57, the RSI at 65.4 definitely supports a buy signal, moving out of neutral.
We've seen a strong push past previous highs, and the price is now testing the upper Bollinger Band. I'd be looking at continuation patterns here.
We've seen a strong push past previous highs, and the price is now testing the upper Bollinger Band. I'd be looking at continuation patterns here.
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@oliver2689 I agree that XAGUSD has been consolidating for a while. The current move above 90 appears more decisive, with RSI now clearly bullish. However, I share your cautious approach before committing to new positions.
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@oliver2689 The 'chop' could be attributed to profit-taking at these levels. I'd be looking for a decisive close above 94.00 to confirm the breakout, coupled with increasing volume. A failure to do so might indicate a short-term top and a retest of the S1 support at 92.82.
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@oliver2689, yeah, silver's been dancing around that level for a bit. RSI is hinting at something, but needs confirmation. A break above that high would be a good sign, I agree.