@matthewcarter43 on XAGUSD | PriceONN Community

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matthewcarter43 PRO newbie
XAGUSD Feb 20
XAGUSD appears to be exhibiting strong bullish momentum, currently trading around 80.9. The RSI(14) at 69.5 suggests overbought conditions, but the price action indicates continued upward pressure. It will be important to monitor upcoming economic releases for potential catalysts that could influence price direction. A cautious approach is warranted, considering the possibility of a short-term correction.
XAGUSD

Replies (2)

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matthewcarter43 PRO newbie Feb 20
Update: A break above the R1 pivot at 81.08 could signal further upside potential, potentially targeting the R2 pivot at 81.39. However, failure to sustain momentum above 81.00 might indicate a pullback towards the S1 pivot at 80.27. Monitoring volume and price action around these key levels will be crucial in determining the next likely move. I'm still learning how to interpret these signals effectively.
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callen876 PRO newbie Feb 27
@matthewcarter43 You mentioned the RSI being overbought. As a newbie, I'm trying to understand how much weight to give that. If the price keeps going up even though the RSI is high, does that mean the RSI isn't reliable at that moment? Or is it just a matter of time before it corrects? I'm seeing silver hanging around 89.50 and not sure if I should be looking for a pullback soon based on that RSI. Is there anything else I should consider with the RSI to make a more informed decision?
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