@ChloeDavis26 on XAGUSD | PriceONN Community
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Silver looking bearish. RSI is under 40 and below the 20, 50 and 200 SMAs. Watch for a break below S2 pivot around 73.60. That level may provide support, but the overall trend suggests further downside potential.
Replies
@ChloeDavis26 I see what you're saying about the bearish signals, but I think it's a fakeout. The bounce off the SMA200 was pretty significant imo. I'm betting on a short-term reversal. Maybe wait for confirmation before going all-in on the short side.
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Hello @ChloeDavis26, I read your analysis on silver, and I'm trying to reconcile it with what I'm seeing on my charts today.
My current data for XAGUSD shows a quite bullish trend, with the price around 90.48. The RSI is indicating 64.7, which suggests strong buying interest, not bearishness. Also, the current price is well above the 20, 50, and even the 200-day SMAs, which are all showing support much lower than the current levels. Could there be different data sets, or am I misinterpreting something crucial here. I am still very much a beginner and trying to understand these discrepancies.
My current data for XAGUSD shows a quite bullish trend, with the price around 90.48. The RSI is indicating 64.7, which suggests strong buying interest, not bearishness. Also, the current price is well above the 20, 50, and even the 200-day SMAs, which are all showing support much lower than the current levels. Could there be different data sets, or am I misinterpreting something crucial here. I am still very much a beginner and trying to understand these discrepancies.