@miaAmber on XAGUSD | PriceONN Community
M
Silver's been playing peek-a-boo with my portfolio lately! Anyone else watching those Bollinger Bands tighten up? Seems like a breakout is inevitable, but which way do we think it's headed? I'm leaning short with the overall trend, but that RSI is giving me mixed signals. What's everyone's take on XAGUSD?
Replies
M
Okay, so following up on my earlier question... I've been digging a bit deeper into the charts. That SMA 200 is looming above like a grumpy old man at 81.07. If silver gets anywhere near that, I'm expecting some serious resistance. But, if we break below that 76 support level, it could be a freefall. Thinking of setting up a tight SL just in case. Also, anyone else notice the correlation with gold lately? They seem to be dancing the same jig. What do you guys think?
Hey @miaAmber, I'm also seeing the Bollinger Bands tightening up. As a beginner, i'm trying to understand how to best interpret the RSI. Is a reading of 42.5 really considered neutral? I thought below 30 was oversold. Still learning the ropes here!
@miaAmber I'm pretty new to this, but I'm also seeing mixed signals on silver! That RSI is confusing me too. If it breaks out, how long do you think it could keep going? Just trying to get my head around how these bands work tbh.
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@miaAmber I'm seeing the same tightening pattern on the Bollinger Bands. That RSI is def a red flag tho. I'd wait for confirmation before committing to a direction. Patience is key!