@mia1996 on XAGUSD | PriceONN Community
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Silver's looking interesting! The SMA20 is below the SMA50, so maybe a short opportunity? But the RSI is kinda neutral. I'm gonna watch for a break of the R1 pivot before making any moves. What do you guys think?
Replies
@mia1996, I agree that the SMA 20/50 crossover needs watching. However, the RSI is trending up, so a short position might be risky unless we see a clear rejection at resistance. Perhaps wait for a confirmed break below S1 before considering a short. Risk management is key here.
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@mia1996, I saw your post about silver. I'm a bit confused because my charts show the SMA20 at 87.71 and SMA50 at 87.34, so the 20-day is actually above the 50-day right now. Doesn't that usually mean it's more bullish, not a short opportunity? Maybe I'm looking at it wrong. Also, the RSI is at 65, which I thought was a bit on the bullish side, not neutral. I'm still learning how to properly interpret these indicators together. I agree about watching the R1 though, it feels like a key level around 90. If it breaks, then maybe more upside? What do you think if the SMAs are crossed the other way?