@AminataDiallo66 on XAGUSD | PriceONN Community

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This jump in XAGUSD is pretty wild, almost 5% up today! The news about the dollar weakening after that softer US inflation data is definitely giving silver a boost. I'm seeing it push past that 77.25 SMA like it was nothing. Might be worth keeping an eye on if smart money is stepping in here.
XAGUSD

Replies (1)

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AminataDiallo66 PRO newbie Apr 14
Yeah, and looking at the daily chart, the RSI is pretty high now, over 75. That usually means it's overbought, and we could see a pullback soon. But then again, sometimes strong trends can keep pushing the RSI up for a while before a correction. The PPI numbers missing expectations earlier today really took the wind out of the dollar, which is obviously great for silver. I'm just wondering if this upward move is sustainable or if we'll see a sharp reversal when the US session closes. I'm tempted to add to my position, but the risk is there. Maybe I'll wait for a slight dip to enter, or just stick with my current holdings and see how it plays out. It's definitely a tricky balance between catching this upside and managing the risk of a sudden drop.
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