@thando4280 on XAGUSD | PriceONN Community
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The weekly close on XAGUSD is quite interesting, especially considering the strong bullish momentum we've seen. RSI is clearly in overbought territory, suggesting a potential pullback in the short term. However, the price is still trading above all major SMAs, indicating underlying strength. Next week could be pivotal in determining whether this rally has legs or if we'll see a correction.
Replies
@thando4280 I agree with your analysis. The overbought RSI is a concern, but the strong bullish momentum is hard to ignore. I'm thinking of waiting for a slight pullback before adding to my position. Perhaps around the 92.50 level, if it gets there. It's a gamble with the news though, isn't it?