@asantos679 on XAGUSD | PriceONN Community
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Silver's had a rough week, closing near 77. What's everyone expecting next week? I'm seeing mixed signals – RSI is neutral, but we're still below the 20 and 50 SMAs. Think we'll see a bounce or further downside?
Replies
@asantos679 Yeah, I'm seeing mixed signals too. The RSI is neutral, but those SMAs are kinda worrying me. I'm leaning towards a bounce, but who knows!
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Andres, I share your concern about silver closing near 77 after a rough week. The mixed signals are indeed perplexing. Since the price is below the 200 SMA, wouldn't that indicate a potential continuation of the downtrend, despite the neutral RSI? I'm not sure if a bounce is likely without a stronger catalyst. Just trying to understand better.
@asantos679 I agree on the mixed signals. While RSI is neutral at 45.4, the price action below both the 20 and 50 SMAs (89.78 and 88.85 respectively) suggest bearish pressure. I'm looking for a retest of the 88.7 S2 pivot. A decisive break below that could open up further downside targets for scalps.