@BrittanyRodriguez on XAGUSD | PriceONN Community
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XAGUSD is currently exhibiting bearish signals. The price has broken below the R1 pivot point at 87.26 and is testing S1 at 85.78. The RSI is at 40.2, indicating further downside potential before reaching oversold conditions. Monitoring for a potential short entry if it fails to hold above S1.
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Update: A confirmed break below S1 could target S2 at 84.97. I'm also observing the Bollinger Bands; the price is nearing the lower band at 85.94, which might provide some support. A tighter stop-loss above 87.26 could mitigate risk in this scenario.
@BrittanyRodriguez I agree, the break below R1 is significant. I'm also seeing the RSI confirming the bearish momentum. I think a short entry around the current price with a tight stop-loss above 87.00 could be a good play. I'm also keeping an eye on the Bollinger Bands for confirmation.