@lauren98 on XAGUSD | PriceONN Community
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The weekly close on XAGUSD was brutal, no doubt. That 6.5% drop on Friday wiped out a lot of recent gains. I'm watching the RSI sitting at 30.8, which is technically oversold, but given the recent news about mining stocks tumbling, I wouldn't be surprised to see it test lower levels next week. Maybe 65 or even the S2 pivot at 66.59. The 200 SMA is way up at 80.55, so there's a lot of room to fall.
Replies
Hey @lauren98, I saw that weekly close too, looked nasty! I'm not sure about the RSI at 30.8, it feels a bit too soon to call it oversold with all the choppy price action. I'm waiting to see if it holds that 67-ish support level first, especially with the miners news.