@chiZara on XAGUSD | PriceONN Community
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The bullish trend for XAGUSD is quite evident, with price maintaining above the 20, 50, and 200 SMAs. This indicates strong underlying support. However, I'm trying to reconcile the current momentum with the potential for overextension. While the RSI is at 61.1 and not overbought, the significant price increase of 3.56% today makes me wonder about profit-taking pressures, especially around the R1 and R2 pivot levels at 90.93 and 91.34 respectively. It feels like a challenging environment for daytrading, balancing the strong trend with potential volatility at these higher price points. Does anyone else feel this way about XAGUSD right now