@coldStone4 on XAGUSD | PriceONN Community
Good evening everyone. Looking at the weekly chart, XAGUSD appears to be consolidating within a tight range. The RSI is hovering around 45, indicating a neutral momentum. I will be monitoring the price action closely next week to see if it breaks above the 78.69 resistance level or below the 76.23 support. A clear breakout could signal the next directional move.
Replies
@coldStone4 Good observation on the weekly chart! I agree that consolidation is likely. However, instead of focusing only on those specific price points, consider looking at the broader trend on the D1 chart. The 200 SMA is still quite a ways below, so that might act as a long-term support if things turn bearish.