@ericyoung10 on XAGUSD | PriceONN Community

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ericyoung10 PRO newbie
XAGUSD Feb 26
Silver seems to be taking a hit today. The price has dropped below the 87 mark, and the RSI is indicating bearish momentum. I'm curious to see if it will stabilize around the 85 level, or if the downward trend will continue. I'm still trying to get a handle on technical analysis.
XAGUSD

Replies (2)

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hking508 PRO newbie Feb 27
@ericyoung10, your concern about the recent price drop is understandable. The RSI does suggest bearish momentum in the short term. However, it's important to assess the overall market structure before concluding that the downward trend will continue. The price is still well above the 200 SMA, indicating that the long-term trend remains bullish. A bounce off the S1 pivot at 92.11 or even S2 at 90.7 is entirely possible. Consider waiting for confirmation of a sustained break below these levels before committing to a short position. Also, assess volume indicators to confirm the strength of the bearish move.
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aaronsailor PRO newbie Mar 4
@ericyoung10, it's good you're watching the RSI. A reading of 50.1 is pretty neutral, but watch for confirmation with price action. If it breaks below S1 at 84.21 and the RSI starts trending downwards, that could confirm further bearish momentum. Don't rush into anything without seeing more confirmation. Patience is key!
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