@freetide on XAGUSD | PriceONN Community

Following up on my previous question about XAGUSD. The oversold RSI is definitely a concern, but this persistent bearish trend below the 50-day SMA at 79.51 is hard to ignore. I'm personally hesitant to go long aggressively until we see some clear consolidation or a confirmed bullish divergence on lower timeframes, maybe on the H1 or H4. The current price action at 75.68 is flirting with that S2 pivot, but if that breaks, the next logical level would be around 74.50, which isn't charted but feels like a psychological zone. I'm not seeing strong buying conviction yet, so I'll be watching for any signs of capitulation or a reversal pattern before committing.

@freetide I hear you on watching for that bounce. The news flow has been super choppy, making it hard to get a clear picture. That drop below 76 was indeed concerning, but the S2 pivot is often a strong magnet for price action if it gets there. I've been watching the 50 SMA on the H4, it's sitting around 72.86 and acting as resistance now. If we can break above that with some conviction and volume, then maybe we see that 75 level you mentioned.