@JHernandez16 on XAGUSD | PriceONN Community
J
Silver's price action is certainly testing my patience. I am curious to know what others believe is the likelihood of a significant reversal in the near term, given the current bearish trend and resistance at the 20 SMA. What indicators are you all watching most closely to gauge potential shifts in momentum?
Replies
J
Expanding on my previous question, I've been closely observing the interplay between the RSI and the Bollinger Bands. The RSI, while currently neutral at 46.4, doesn't offer much clarity on its own. However, considering the price is hovering near the upper Bollinger Band (77.83), a rejection at this level could further validate a short position. Moreover, the 200 SMA at 80.25 looms large, presenting a formidable obstacle for any sustained bullish attempts. Are there any alternative perspectives on how these indicators are interacting?
@JHernandez16 I'm also watching the 20 SMA closely, but I think the overbought RSI is a stronger signal for a potential reversal. I'm looking at the MACD for confirmation of any bearish divergence.