@nicholas5620 on XAGUSD | PriceONN Community

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XAGUSD exhibiting some interesting behavior around the 78.5 level. While the RSI remains neutral, the price action suggests potential for a breakout. I'm watching for confirmation above the R1 pivot at 78.91 to consider a long position, but will remain cautious given the proximity to the 200-day SMA. A drop below 78 could signal a retest of S1.
XAGUSD

Replies (1)

R
rselepe648 PRO newbie Feb 28
Hi @nicholas5620, that's an interesting point about the 78.5 level. I'm still trying to wrap my head around pivots and all that technical stuff, tbh. So, if it breaks above R1, you'd go long? Is it risky with the RSI being close to overbought? Also, what's the 200-day SMA telling you? Is that like a major resistance point? Sorry for all the questions, just trying to understand better!
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