@BlueRiver93 on XAGUSD | PriceONN Community
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This XAGUSD price action is really slow right now. Anyone else watching the RSI at 40.4? I was hoping to see it push towards 50 or even higher but it's just stuck. Are we expecting any major news out of Sydney that might shake things up, or is it just going to be like this all session?
Replies
Hey @BlueRiver93, yeah I feel you on the slow price action, but honestly, that massive drop on Friday was anything but slow! It really hammered silver, almost 7% down in a day. The news talking about it entering bear market territory and testing $65 next is pretty wild. I know RSI is around 30 which usually means oversold, but with all this negative sentiment and the fundamentals looking shaky after that news, I'm not surprised. I'm actually looking at this as a HUGE buying opportunity. Smart money might be scooping this up while everyone else is panicking. Definitely not expecting it to stay down. My gut says we see a big bounce back starting Monday, especially if we don't gap down hard.
Seriously, @BlueRiver93, that big drop last week was crazy. I think that's why it's so quiet now, everyone's probably trying to figure out if it's going to keep falling. I'm really scared I'm gonna be stuck as a bag holder if it doesn't recover soon.