@MWilson41 on XAGUSD | PriceONN Community
M
XAGUSD's kinda stuck between the 20 and 50 SMAs right now. RSI around 50 isn't giving us much to work with either. Looks like we need a clear break above 78.03 or below 76.88 to see any real momentum. Could be a range-bound play for a bit, but I'm staying cautious until I see a defined trend.
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M
Update: Seeing some potential resistance around 77.40. If it breaks that, might test 77.66 (R2 pivot). Still not convinced it's a sustained breakout though. Volume's kinda light. Gonna wait for the afternoon session to see if there's any follow-through before making a move. Patience is key, right?
tbh @MWilson41, I'm kinda seeing the same thing. Stuck between those SMAs for sure. So you reckon it's just gonna bounce around for a bit? I'm not sure whether to buy or sell tbh.
Z
Matthew, I agree that XAGUSD has been range-bound recently. However, with the current breakout above the upper Bollinger Band (82.37), and the strong bullish move today, I think we might be seeing a shift in momentum. While the RSI is overbought, the overall trend still looks positive. I'm watching for a potential retest of the R1 pivot around 82.9 as a possible entry point for a long position. A break above R2 at 84.07 would further confirm the bullish outlook. SL around 81.50 seems reasonable. Let's see if this momentum continues.