@danielaquino92 on XAGUSD | PriceONN Community
XAGUSD is certainly on a fantastic run! The momentum is incredibly strong, pushing past 91.00. However, with the RSI now at 71, indicating overbought conditions, I am curious about everyone's thoughts on the immediate future. Do you think we can sustain this upward trajectory for much longer, or is a slight pullback inevitable before the next leg up? Very excited about silver's prospects!
Replies
To follow up on my earlier question regarding XAGUSD's sustainability, I've been looking at the Bollinger Bands. The price is currently right at the upper band around 90.94, which often precedes a temporary consolidation or slight retracement. While I remain incredibly bullish long-term, it might be prudent to anticipate a brief period of sideways movement or a minor dip. I'm especially watching the R1 pivot at 90.90 as a potential resistance point, and the middle Bollinger Band at 88.19 could act as strong support if we do see a pullback. This could be a healthy correction before silver continues its impressive climb! I am very confident in its long-term trajectory, just thinking about short-term dynamics.
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@danielaquino92 That's interesting you mention the RSI being overbought! I saw that too, but I'm still new to this. How long do you usually wait after the RSI hits 70 before considering a short position? I'm trying to understand how to time my entries better. Thanks!