@SofiaAli39 on XAGUSD | PriceONN Community
S
What an incredible run XAGUSD is having! The current price action clearly indicates a robust bullish trend, with the asset comfortably trading above its 20, 50, and 200-day SMAs. The RSI at 66.6, while elevated, still suggests room for upside momentum before entering deeply overbought territory. I'm closely watching the 91.00-91.50 range for potential short-term consolidation before another leg up!
Replies
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To add to my previous point, the current price action is testing the R1 pivot at 90.79 quite strongly. A decisive break above 91.00 could open the path towards the upper Bollinger band around 92.15, which would be a key resistance level to watch. Maintaining above the 90.00 psychological level will be crucial for sustaining this momentum into the next session!
That's an interesting perspective @SofiaAli39. While XAGUSD certainly has demonstrated strength by trading above its key SMAs I'm observing the current RSI reading which is now closer to 53.1. This suggests a more neutral momentum compared to the 66.6 you mentioned potentially indicating some cooling off or consolidation. The price is currently around 89.94 just slightly below the 20-day SMA at 90.00 which might act as a short-term resistance. I'd be cautious about declaring a 'robust bullish trend' without a clearer break above the upper Bollinger Band at 91.91 especially with the neutral RSI. For a position trade I'd prefer to see stronger confirmation.
I
That's an interesting analysis, @SofiaAli39. Silver's been on a tear, that's for sure! But RSI is getting pretty high, and with the news of the joint military strike, I'm wondering if a pullback is in the cards. Will watch closely on Monday.
M
@SofiaAli39 Sofia, while the overall trend is bullish on larger timeframes, the current price action suggests a short-term correction. RSI is showing divergence on H4. I think the 91.00 level will act as strong resistance. A break below 90.00 could trigger a deeper pullback.