@zshah721 on XAGUSD | PriceONN Community
Z
XAGUSD is currently trading around 76.33. The RSI is at 40.8, so it's neutral. The price is below the 20 SMA which is 77.43. I think it will continue to fall, but I am not sure how low it can go. Maybe 76 is the next support?
Replies
@zshah721, while the RSI reading around 40.8 does indicate a neutral stance, relying solely on it can be misleading. XAGUSD price action is influenced by a multitude of factors. Consider the 50-day SMA at 75.88 as a more significant support level than 76. A break below this level, coupled with confirmation from other indicators like the MACD, could signal a deeper correction. However, keep an eye on the 200-day SMA at 78.88, as it may act as dynamic resistance if XAGUSD attempts a rebound.