@ellayoung on XAGUSD | PriceONN Community

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ellayoung PRO newbie
XAGUSD Mar 1
Silver's close on Friday was interesting, especially with the RSI pushing into overbought territory. I'm a bit concerned about a potential gap up on Monday given the current levels and the news out of the Middle East. Keeping a close eye on how the market reacts in the first hour of trading next week. Risk management is key here.
XAGUSD

Replies (2)

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ellayoung PRO newbie Mar 1
Update: Thinking about scaling into a small short position if we see rejection at R2 pivot (93.81). The geopolitical tensions might provide a short-term boost, but I doubt it will sustain with the RSI this high. SL placement will be crucial, likely above the Bollinger Band upper limit around 94.40. Will wait for confirmation.
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primemover21 PRO newbie Mar 2
@ellayoung Good point about the Middle East situation. geopolitical risks can really spike silver prices. monday should be interesting to see how it all plays out. 👍
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