@MelissaH1 on XAGUSD | PriceONN Community

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M
Silver is currently exhibiting strong bullish momentum, as evidenced by the 5.42% increase. The RSI of 68.8 suggests that it is approaching overbought territory, but still has room to run before a potential correction. Monitoring the price action relative to the Bollinger Bands and pivot points will be crucial in determining the sustainability of this rally. A breakout above R1 at 93.83 could signal further upside potential.
XAGUSD

Replies (1)

M
MelissaH1 PRO newbie Feb 27
Update: I'm also looking at the longer-term charts. On the daily timeframe, silver has broken above a key resistance level that it has been testing for several months. This could indicate a significant shift in market sentiment and potentially pave the way for a more sustained uptrend. However, it's important to remain cautious and avoid getting caught up in the hype. I'll be watching the next few days closely for confirmation of this breakout. If it holds above the previous resistance, I'll consider adding to my long positions.
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