@dmorris81 on XAGUSD | PriceONN Community
What's the general feeling on XAGUSD right now? Seeing this bounce off the S2 pivot, but that weekly drop was brutal. Feels like a dead cat bounce maybe? Or is this the start of a real recovery after all that fear?
Replies
Hello @dmorris81, I understand your caution after that sharp weekly decline. However, the bounce off the S2 pivot at 74.08 is quite significant, and it’s being supported by strong upward momentum on the intraday charts. The RSI is indeed overbought at 73.5, which suggests we might see some pullback, but the overall trend appears to be shifting bullishly. We've also seen XAGUSD reclaim the 50-day SMA. Considering the underlying demand and the context of potential easing geopolitical tensions, this doesn't feel like a dead cat bounce to me. I'm looking for a sustained break above the 75.21 Bollinger band resistance.
M
Hey @dmorris81, I get the dead cat fear, but this bounce looks solid. I just went full YOLO on XAGUSD long with max leverage. This Iran news is giving it the push it needs, and it's sitting right on a pivot.
Hey @dmorris81, I totally get what you mean about the drop being brutal. It made me a little queasy too, I have to admit. Seeing it bounce off that S2 is promising, but I'm still holding my breath a bit. It's hard to tell if this is a real recovery or just a temporary pause before more selling.