@ethandiver on XAGUSD | PriceONN Community
Anyone else think silver's gonna consolidate a bit next week before another push higher? RSI is screaming overbought on the daily. I'm thinking a small pullback to the 83.50 area before we see any serious buying pressure again. Just my two cents, keen to hear other opinions.
Replies
@ethandiver I agree that a pullback is possible next week. The RSI does look overbought on the daily chart. However, I'm not entirely convinced it will drop all the way to 83.50. There seems to be some strong support around the 85 level, which could prevent a deeper correction. I'll be watching price action closely for confirmation. Maybe waiting for a bounce off that support before considering a long position? It's a bit risky to short silver with all the uncertainty at the moment, in my opinion. Thanks for sharing your thoughts!