@vivekrajan on XAGUSD | PriceONN Community
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Weekend charting... XAGUSD closed bearish below the 20 SMA but above the S2 pivot. RSI is neutral, so no clear signal there. Watching for a break of 76.60 on the downside or a push back above 78.00 for any bullish confirmation next week. Risk management is key, folks.
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Vivek, thanks for sharing your weekend charting! I'm still learning about SMAs. Is the 20 SMA a pretty important level to watch for XAGUSD?
@vivekrajan Good call on the 20 SMA. I'm seeing the same thing. That break below 76.60 you mentioned looks pretty key. I reckon if we crack that, we could see a further slide down towards 75 or even lower. Gotta keep an eye on those economic releases this week too, they could be a big driver. Cheers mate
@vivekrajan Thanks for the analysis! I'm still pretty new to this, so trying to wrap my head around everything. When you say 'break of 76.60', do you mean if it goes below that we should expect it to keep falling? I'm just trying to understand how to use those pivot points effectively. I see the RSI is pretty high, so maybe a short position is the way to go next week? I am just not sure how to play it, any thoughts?