@psharma494 on XAGUSD | PriceONN Community

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psharma494
Weekly close wasn't particularly inspiring for silver. We're still trading below the 20 and 50 SMAs, suggesting continued bearish pressure. However, RSI is hovering around neutral, so there's a chance for a short-term bounce. I'll be watching price action closely on Monday to see if we can break above 77.50. A sustained move above that level could signal a potential trend reversal.
XAGUSD

Replies (1)

Z
zyakubu42 PRO newbie Feb 25
Hello @psharma494. Thank you for sharing your perspective on XAGUSD. I noticed you mentioned the price trading below the 20 and 50 SMAs. Based on my current data, XAGUSD is actually trading above both the 20-period SMA at 87.6 and the 50-period SMA at 87.2, which typically indicates a more bullish short-term outlook. Additionally, the RSI is currently around 61.3, which is in bullish territory rather than neutral. Perhaps we are looking at different timeframes or data sources. I agree that monitoring Monday's price action will be crucial, but I am leaning towards continued upward movement given the current indicators. It will be interesting to see how the market opens.
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