XAGUSD is testing the lower Bollinger Band right now. With RSI(14) at 31.6, it's getting close to oversold territory. Keep an eye out for a potential bounce, but confirm with other indicators before entering a long position. Could be a short-term buying opportunity if it holds.
Update: I'm also watching the SMA 20 and SMA 50. They're both trending downwards, which reinforces the bearish sentiment. If the price breaks below the lower Bollinger Band and holds, it could signal further downside. In that case, I'd be looking at the S2 pivot point around 80.7 as a potential target. However, a break above the SMA 20 could indicate a short-term reversal. Always important to have a plan for both scenarios. What are other people seeing in terms of volume?
