@cbrown290 on XAGUSD | PriceONN Community

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C
Silver's recent price action is quite interesting. We've seen a strong push upwards, currently sitting near 80.50, but I'm cautious. The RSI is approaching overbought territory. I'll be watching for a potential pullback towards the 79.50 level before considering any new long positions.
XAGUSD

Replies (1)

C
cbrown290 PRO newbie Feb 20
Update: Further to my earlier analysis, the break above the R1 pivot point at 78.97 adds to the bullish case, but the 81.00 level is a critical resistance. A daily close above that would signal a more significant move higher. However, the risk/reward ratio at these levels is not ideal for new entries. I'm also monitoring the 20-day SMA – a test of that level could provide a lower-risk entry point if the overall trend remains positive. Will keep everyone posted.
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