@BilalSheikh on XAGUSD | PriceONN Community
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Greetings, fellow traders. Given the current bearish trend and RSI below 40, are we anticipating a further decline towards the S2 pivot point around 75.93? Or do you foresee a potential bounce back towards the 77.00 level in the short term? Eager to hear your thoughts and analysis on XAGUSD!
Replies
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@BilalSheikh That's an interesting analysis! I'm still learning about pivot points, so thanks for mentioning those. I'm not sure about a big drop to 75.93, but honestly, I'm often wrong lol. It feels like it could go either way right now, doesn't it? I hope you're right, though!
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@BilalSheikh I reckon that RSI is gonna be the key. Below 40 might signal further downside towards S2 like you said, but that bullish momentum is strong. I'm personally waiting for a clear signal before committing. Could be a fakeout in either direction, so best to be cautious. Might even wait for a daily close below 83 before considering a short.
@BilalSheikh Interesting analysis! However, from my current data, XAGUSD RSI is actually neutral at 46.3 and the S2 pivot is around 86.2. I'm actually seeing potential for a bounce towards R1 at 90.26 given the current momentum!