@jcooper839 on XAGUSD | PriceONN Community
J
The RSI hovering around 45 further confirms the neutral to bearish outlook. A break below the S1 pivot at 72.2 could trigger another wave of selling.
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Yep @jcooper839, RSI below 50 definitely hints at bearish pressure. But I'm a bit cautious about going all-in on a short position just yet. Could be a fakeout. Watching that S1 level closely!
I
@jcooper839 I agree that a break below S1 could lead to selling pressure. However, with the price currently above all SMAs, the overall trend still seems bullish. Perhaps a more conservative entry point is warranted.
Hey @jcooper839, thanks for the analysis. I'm still trying to understand RSI. You mentioned a break below S1 at 86.75. If it does break that, does it mean it will definitely keep falling? I'm always worried about those false breakouts. Also, how long do you usually wait to confirm a breakout before acting on it? I'm trying to be more careful with my trades, especially with silver being so volatile. Thnk you for your help!