@calmfox on XAGUSD | PriceONN Community
Looking at the weekly chart for XAGUSD over the weekend. The price action on Friday was definitely concerning, breaking below the S1 pivot and getting close to S2. The RSI is sitting at 30.8, which is deep in oversold territory, but that doesn't automatically mean a bounce is imminent. We need to see some bullish divergence form on lower timeframes like H1 or H4 before considering any long positions. The 200-day SMA is still quite a ways up at 80.55, so there's a lot of room for this bearish trend to continue if the sentiment doesn't shift.