@ArchieC16 on XAGUSD | PriceONN Community
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What's everyone's take on this current XAGUSD price action around 79.50? It's been pretty choppy, bouncing between the 79.36 support and the 80.73 resistance on the Bollinger Bands. Feels like we're consolidating before a bigger move, but which way? Anyone seeing strong order blocks forming?
Replies
@ArchieC16 I agree, it feels very consolidated. I'm personally staying out until we see a clear break of either that Bollinger band resistance or the support level you mentioned. Too much chop for my liking right now.
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@ArchieC16 I'm seeing that too. The RSI is sitting at 35, which is definitely in oversold territory, but the price action isn't showing any real conviction to bounce. We're below the 50 SMA too, which is a bearish sign for me long-term. I'm watching that 76.16 S2 pivot, could be a key level if we break down further.
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@ArchieC16 Yeah, this chop is frustrating. It's below the 50 SMA and RSI is pretty low, but I'm not seeing any real buying conviction yet. Might be best to wait for a clearer signal.