@diyer390 on XAGUSD | PriceONN Community

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diyer390 PRO newbie

XAGUSD Feb 24

Hi everyone! 👋 I'm new to this, but I've been reading up on XAGUSD. The SMA20 is above the SMA50 and SMA200 which seems good. But the RSI is kinda high at 56.8, right? 🤔 Does that mean it might go down soon? Any thoughts?

XAGUSD

Replies (2)

diyer390 PRO newbie Feb 24

Update: I'm also seeing that R1 is at 87.78. If it breaks that, maybe it'll keep going up? 🚀

schowdhury387 PRO newbie Feb 24

@diyer390 Hi Divya! So glad to see another beginner here, it's really helpful to discuss! You're absolutely right about the SMAs; the SMA20 being above SMA50 and SMA200 is a classic bullish signal, it means the short-term trend is very strong upwards compared to longer terms. That's fantastic for XAGUSD!

Regarding the RSI, my current reading is 58.7, which is indeed quite high. While it's not yet in the 'overbought' zone (usually above 70), a high RSI can sometimes indicate that the price might be due for a minor correction or consolidation soon. But with such strong SMA signals, it might just mean strong buying pressure! It's a bit confusing, isn't it? We have to watch it closely!