@MiaGamer on XAGUSD | PriceONN Community
M
Okay, so looking at XAGUSD, the 200 SMA is way up at 78.75, and we're currently trading significantly below that. That's a pretty strong bearish signal, imo. Plus, the price is below both the 20 and 50 SMAs as well. I'm thinking any rallies might be short-lived. S2 pivot point at 72.59 looks like a potential target if this downtrend continues. But, as always, this is just my analysis, and I could be totally wrong! I'll be watching closely for a confirmation of the breakdown before entering any short positions. It's important to wait for confirmation signals, just because the RSI is low doesn't mean it HAS to bounce.