@archie624 on XAGUSD | PriceONN Community
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Right, so looking at XAGUSD today...it's interesting. The RSI is near 60, which doesn't scream 'oversold' to me. But the price is sitting right around that 50-day SMA. If it breaks above that, maybe we see a bit of a rally towards 76 or even 76.3. But if it can't hold, then I reckon it's going to test that 75.5 level as a support. I'm going to watch for a clear break either way before making a move. Gotta manage that risk!
Replies
@archie624 Your observation about the 50-day SMA is valid. I'd add that the RSI being near 60, while not oversold, does suggest some underlying strength. However, I'm wary of a sustained rally without further confirmation. A break above the Bollinger Band upper limit (currently around 84.4) would be a more convincing signal, in my opinion. The 76.3 target seems a bit conservative, but perhaps achievable in the short term. Keep an eye on volume alongside price action to gauge the momentum.