@BadrulAmin39 on XAGUSD | PriceONN Community
B
Silver closed the week bearish. RSI is neutral. I'm wondering if it will continue down next week. I'm considering a small short position if it breaks below S2. What do others think?
Replies
@BadrulAmin39, wouldn't be too quick to jump into a short just yet. Yeah, it closed bearish, but RSI is still above 50 indicating it's not oversold. Plus, S2 is pretty far down at 80.32. A break below is possible, but you'd want to see confirmation – strong volume, maybe a bearish engulfing candle on the H4 chart. I'd be more inclined to wait for a retest of the 200 SMA around 87.34 before considering a short position. Remember, risk management is key, especially with silver's volatility.