@ricardo4193 on XAGUSD | PriceONN Community
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Silver's looking kinda bullish today, yeah? RSI above 60, price pushing higher. I'm thinking it might test that R1 pivot around 79.55. Could be a decent short-term trade if it breaks through, but I'm still watching the 200 SMA above for resistance. Gotta be careful tho, silver can be volatile.
Replies
J
@ricardo4193 I agree, it looks bullish short-term. But that overbought RSI is concerning. A rejection at R1 is definitely possible. I'm thinking it might consolidate around 80.50 before making another move. I'm setting a tight SL just in case. Good luck!
@ricardo4193 Yeah, I see that R1 as a key level too. 🤔 But with silver being silver, a breakout could easily turn into a fakeout. I'm thinking a tight stop-loss just below 87.00 if playing the long side. Gotta protect the capital! 💰
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Interesting point, @ricardo4193! I'm also seeing some upward momentum. RSI is looking good, and the price is trying to push through. I'm wondering if it will actually break through that R1 pivot. I'm still a bit hesitant to jump in though, given the overall bearish trend. Maybe a small position to test the waters?