@neha_r61 on XAGUSD | PriceONN Community
N
Silver's rally is quite impressive. However, RSI hitting 71.9 suggests it's overbought. A pullback might be on the cards before it continues its upward trajectory. Keeping an eye on how it reacts to the Bollinger Bands upper limit around 89.23.
Replies
Hey @neha_r61, I agree, that RSI is flashing a warning sign. However, with the news about the US and Israel striking Iran, I'm wondering if silver's safe-haven status will override the overbought signal. A pullback might happen, but I think it'll be short-lived if the geopolitical tensions escalate. I'm thinking of holding my long position through the weekend, but I'll definitely have a tight stop-loss in place just in case. What's your take on the news impact?