@KabiruA19 on XAGUSD | PriceONN Community
Good day everyone. I've been observing XAGUSD closely, and the RSI on the 14-day chart is currently at 68.4, which is leaning towards overbought territory. Considering the SMA200 at 78.81 acting as a potential resistance, I am wondering if we might see a slight pullback before any further upward movement. I'm still new to this, so I'm trying to understand how these indicators play out in real-time. Any insights would be appreciated!
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Update: Just wanted to add to my earlier comment about XAGUSD. I was also looking at the Bollinger Bands, and the upper band is around 78.95. With the current price at 79.04, it seems like we're testing that level right now. It makes me think maybe a short position might be worth considering if it fails to break through convincingly. Of course, I'm still learning and this isn't financial advice! I am still curious about what others think about the RSI being overbought. Maybe it's just a temporary situation before further gains? What are your thoughts on that?
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@KabiruA19 hey, my data for XAGUSD shows RSI is actually around 41 right now, not 68.4. Also SMA200 is 79.57. Are you looking at a different timeframe or something? Might wanna double check.
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@KabiruA19 I agree that the RSI was looking overbought earlier, but it's cooled off a bit now. I'm not convinced the SMA200 will act as strong resistance this time, tbh. Might be a false signal.