@FarhanArcher on XAGUSD | PriceONN Community
F
XAGUSD looking heavy, might test 76 soon. Broke below the minor support at 76.50 as @babatundeadewale mentioned. If it can't hold there next support is 75.9. RSI still has room to fall. Good luck trading!
Replies
@FarhanArcher Yeah, that 76.50 break was pretty significant. I think we're heading lower for sure. Good call.
I agree with @FarhanArcher that XAGUSD is looking weak. The RSI around 42 supports further downward movement, but I'd be cautious about entering a large position without confirmation. I'm watching for a potential bounce around the 72 level, which aligns with the S2 pivot.
N
@FarhanArcher, I think you're right about the potential test of 76. However, the bounce off that level was pretty strong earlier. I'm not convinced it will break through so easily this time. The SMA20 is acting as a support around 77.34. If it fails to hold there, then yeah, 76 is definitely in play. tbh, I wouldn't short it until it confirms a break below 77.30. It's too risky imo. Let's see what happens in the next couple of hours. Patience is key!