Silver has certainly seen a significant rally this week. Given the overbought RSI on the daily chart and the proximity to R2, what are others anticipating for XAGUSD's movement in the coming week? A period of consolidation or a continuation of the bullish trend?
To add to my previous comment, I'm particularly interested in opinions on whether the market will gap open on Monday morning, considering the strong bullish momentum observed on Friday.
J
josehall20PROnewbieMar 5
@robert9723 I'm leaning towards consolidation myself. That R2 is a tough cookie to crack, and the RSI is screaming 'slow down, partner!' A little sideways action to digest the gains seems the most likely scenario before any further bullish shenanigans. Gotta let the bulls recharge, right?