@JessicaM22 on XAGUSD | PriceONN Community

Looking back at this past week for XAGUSD, it was certainly a rollercoaster. The initial push towards the R2 pivot at 79.57 certainly looked like a liquidity grab to me, as @adelacruz805 mentioned. I'm not entirely convinced by this upward momentum, especially with the RSI showing overbought conditions on the H1 chart. While the news about Iran did provide a catalyst, I'm cautious about sustainability. It felt like a lot of stops were taken out before the market closed on Friday, and I'm wondering if that strength will hold into the new week. I'm leaning towards expecting a bit of a reversal or at least a consolidation phase. We need to watch that 80.00 psychological level very closely, and anything above 80.50 would start to concern my bearish outlook.