@jjackson178 on XAGUSD | PriceONN Community

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J
Is anyone else seeing a potential double top forming on the XAGUSD chart? 🤔 It seems like we've hit resistance around 83.25 twice now. I'm wondering if this could signal a bigger downward move coming. What are your thoughts, and what indicators are you watching to confirm this?
XAGUSD

Replies (1)

J
jjackson178 PRO newbie Mar 5
Update: I've been looking at the RSI as well, and it seems to be trending downwards even as price made that second attempt at 83.25. Could be a bearish divergence forming, which would further support the double top idea. I'm still learning about these patterns, so I'm not sure how reliable it is in this market. I'm also considering the 200 SMA at 87.62, that's quite a bit above current prices, so the overall trend still seems bearish to me. I'm thinking of waiting for a clear break below 82 before considering a short position, just to be a bit more cautious. Any other opinions?
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