@olufemi7663 on XAGUSD | PriceONN Community
O
Spent some time this weekend looking at the XAGUSD charts. The RSI is neutral but price below all SMAs on the daily chart. This points to further downside, but I'll wait for confirmation before opening any new positions.
Replies
N
@olufemi7663 I agree that the price being below all the SMAs is a bearish signal. However, it's worth noting that the 20-day SMA is very close to the current price. A break above that level could negate some of the downside pressure. Keep an eye on volume for confirmation either way.
N
@olufemi7663 Good shout on waiting for confirmation. Patience is a virtue, especially in this game. Could be a fakeout brewing, so better safe than sorry!
@olufemi7663 Yeah, good spot on the daily SMAs. That 50-day SMA at 86.76 is definitely key. If we break below that, coupled with the RSI staying under 50, then your downside confirmation could be valid. My system would definitely flag that