@james5510 on XAGUSD | PriceONN Community
Friday's close on XAGUSD was undeniably bullish, with a substantial price increase fueled by the breaking news. The RSI at 70.3 indicates overbought conditions, suggesting a potential short-term correction. However, the underlying momentum appears strong, supported by the 20, 50, and 200-day SMAs all trending upwards. A strategic approach might involve waiting for a pullback to the 92.80 area (S1 pivot) before considering a long position. The key will be monitoring volume and confirmation signals to validate the continuation of the uptrend. I'll be watching the D1 chart closely for confirmation signals next week.