@osmith955 on XAGUSD | PriceONN Community
Currently observing XAGUSD consolidating around the 77.50 level. The 20 SMA at 77.47 acting as immediate support. A decisive break below this level could trigger a move towards the S1 pivot at 76.92. Conversely, a sustained push above the 78.00 mark might test the R1 pivot around 77.9. I am leaning towards a short if we see bearish confirmation on the H4 chart.
Replies
@osmith955 I agree that the 20 SMA is a key level to watch. A break below could definitely signal further downside. I'm also looking at the RSI, which is currently around 41.5, indicating neutral conditions but trending towards oversold. If it dips below 30, that could provide further confirmation for a short position targeting S1. Thanks for pointing out the 20 SMA support!
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@osmith955, thanks for the analysis! I agree that the 20 SMA is a key level to watch. However, I'm also keeping an eye on the RSI, which is currently above 60. A sustained move above 70 could signal further bullish momentum, potentially invalidating the bearish scenario you outlined. Do you incorporate RSI into your analysis as well?