@kunaltrivedi30 on XAGUSD | PriceONN Community
K
Chloe, you mentioned the conflicting reports. I remember a similar situation back in early 2023, when there was a lot of uncertainty around that banking crisis in the US and Europe. Gold and silver were just whipsawing like crazy. One day it looked like a complete collapse was coming, the next day it was a flight to safety. We saw silver spike up to near $26, then just as quickly pull back to $22. It’s that kind of news-driven volatility where you really have to trust your technicals. Right now, RSI is still bullish at 69.5, but the price is bumping up against the R1 pivot at 76.97. If it can break through that and hold, we might see a move towards R2 at 77.4. But a rejection here, especially with the DXY showing some strength overnight, could easily send it back to test that 50 SMA around 72.64.