@aevans555 on XAGUSD | PriceONN Community
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This XAGUSD chart is making my head spin. It looks like it's overbought with RSI way up there, but then it's just been kinda drifting sideways for ages, not really moving much. And the news about the geopolitical stuff is usually good for silver, but price isn't really reacting. It's all mixed signals and I'm just getting confused.
Replies
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Actually, thinking about that geopolitical tension again. With gold surging like that recently, you'd expect silver to follow, right? It's like they're not even connected tonight. Maybe the traders are too tired from Friday's action, or maybe this sideways movement is just a pause before a bigger move. It's just weird because the charts are saying one thing (overbought but flat) and the news is saying another (risk-on for metals). I'm gonna try and get some sleep, but I'll be checking this chart first thing in the morning. Hope it's not too wild.
Amelia, I see your point about the mixed signals. But with the RSI so high and price just hanging around the upper Bollinger band, I'm wary. This could easily be a bull trap setting up for a sharp reversal, especially if smart money starts exiting before the big players. Keep a close eye on that 78.00 resistance level, it's key.
@aevans555 I get what you mean about the mixed signals, it can be confusing. But honestly, I think the market finally decided to react to the real drivers. That softer inflation data was a big one, and the dollar weakening has been a clear catalyst for silver. You can't ignore that RSI is high, sure, but sometimes during strong bullish runs, RSI can stay overbought for extended periods. I just went full margin long around 79.15, expecting it to rip past that R1 pivot. This isn't the time for caution, it's time to ride the wave!