Anyone else noticing the consolidation around the 87 level on XAGUSD? I'm seeing mixed signals between the RSI and the SMA's. Short term seems bullish, but the longer term is still showing bearish tendencies. What are your thoughts on potential breakout directions?
Update: Looking closer at XAGUSD, I'm thinking a short-term long position might be viable if it can break above the R1 pivot at 87.36. The RSI is still hovering around 50, indicating neutral momentum, but a decisive break could signal a stronger bullish move. However, I'm also factoring in the upcoming news releases this week which could introduce volatility. A tight stop-loss around 86.80 would be essential to mitigate downside risk. Overall, I'm leaning towards a cautious bullish approach, but will wait for confirmation before entering a position. Keeping an eye on the D1 chart for confirmation.
