@nicoleclark70 on XAGUSD | PriceONN Community
Watching XAGUSD react to the S1 pivot at 77.68. If that breaks decisively, we could see a quick move down to S2 at 77.51. The RSI is sitting right at 47, so it's not really oversold or overbought, just hanging out. This Iran ceasefire extension news seems to be giving it a bit of a pause, but the underlying trend still feels bearish to me.
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Actually, looking at the D1 chart, that 200 SMA at 78.15 is still a pretty strong resistance area. Might be a good spot for another short if price gets up there again.
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Hey @nicoleclark70, good observation on the S1 pivot. I agree, a clean break below 77.50 should accelerate the downside. That 200 SMA is key resistance as you mentioned. I'm personally looking for a retest of that level for confirmation before adding to my current short.