@OscarDiver on XAGUSD | PriceONN Community

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O
Weekly chart shows XAGUSD hitting overbought territory based on RSI. Closing price above the upper Bollinger Band suggests strong upward momentum, but a potential pullback is possible next week. Watching for a possible gap up on Monday open, but cautious due to the overbought conditions. A correction towards the 80 level wouldn't be surprising.
XAGUSD

Replies (1)

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OscarDiver PRO newbie Feb 21
Further to my previous analysis, it's important to consider potential support and resistance levels. Immediate resistance around 84.70, a break above could see a push towards 85.50. On the downside, support lies around 83.50 and then 82.80. Given the bullish momentum, I'll be monitoring the 20-day SMA which is currently around 80.5 as a key level. If price action retraces to this level, it could provide a good entry point for a long position, but proper risk management is crucial. Always set your stop losses appropriately.
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