@sharifah92 on XAGUSD | PriceONN Community
Considering the current bullish trend for XAGUSD, the price is holding well above both the 20-day and 50-day SMAs. The RSI at 56.7 suggests there's still room for upward movement before becoming overbought. I'm observing if it can sustain above the R1 pivot at 87.89, potentially targeting the R2 level around 88.69 in the coming sessions.
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To add to my previous comment, a crucial point for this potential upward move would be for XAGUSD to remain within the upper band of the Bollinger Bands, currently sitting around 88.97. If we see a strong rejection from this level, it might indicate exhaustion and a need for a retest of the 20-day SMA at 87.67 before any further attempt at higher resistance.