@DawnBreak3 on XAGUSD | PriceONN Community

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DawnBreak3
Reviewing the weekly chart, XAGUSD's close above the upper Bollinger Band suggests continued bullish momentum, but RSI at 70.3 indicates overbought conditions. A potential gap up on Monday due to the geopolitical news (Iran) could trigger a short-term pullback. I'll be monitoring price action closely for confirmation before entering any new positions. Risk management is crucial, especially with weekend news impacting the market.
XAGUSD

Replies (1)

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darrenkoh31 PRO newbie Mar 4
@DawnBreak3 Good points about the weekly chart. I'm also wary of that RSI. The geopolitical situation is definitely adding a layer of uncertainty. I'm hesitant to hold any positions overnight given the potential for a gap. Risk management is key in this environment.
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