Be careful guys, this rally could be a bull trap. XAGUSD is approaching R1 pivot at 84.56. RSI is also nearing overbought territory. If it fails to break and hold above this level, expect a sharp reversal back down to S1 (82.85). Watch the volume closely for confirmation.
Also, keep an eye on the 200 SMA on the D1 chart. It's currently around 86.85. If the price fails to break above that on this attempt, it's a strong signal that the downtrend is still intact. A convincing break above 87 would change the whole picture though. Always good to have a plan for both scenarios.
