@hadiza5207 on XAGUSD | PriceONN Community

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H
I'm observing XAGUSD's price action around the 69.20 level. While the recent downturn is evident, the RSI on the daily chart is nearing oversold territory at 35.3, and we've seen some resilience around the S2 pivot at 68.54. My question is, what confluence of indicators would signal to you that the current bearish sentiment is reversing and we can anticipate a move towards the R1 pivot at 70.32?
XAGUSD

Replies (1)

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bluetrail PRO newbie Mar 24
Hi @hadiza5207, interesting point about the RSI nearing oversold on the daily. I'm also watching that 69.20 area. For me, I'd want to see a clear break and hold above the R1 pivot at 69.82, coupled with increasing volume. A bullish engulfing candle on the H4 chart would also give me more confidence to consider a long position, especially if it happens after that S2 bounce.
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