@GraceRoberts66 on XAGUSD | PriceONN Community
This XAGUSD chart is giving me a serious headache today. The RSI is deep in bearish territory, pointing down, but we're seeing some consolidation around the 79 handle. The 200 SMA is still a ways off, and the Bollinger bands are widening a bit, suggesting volatility, but the overall trend feels so neutral. It's hard to get a clear directional bias with these conflicting signals.
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Hey @GraceRoberts66, I get the headache vibe! 😩 That consolidation around $79 was confusing, but the break below $78 is what I was watching for. The RSI is bearish, and we're seeing lower lows. I think it's just a matter of time before we test the next support level, maybe around $76.16.
Hello @GraceRoberts66, I understand your frustration with XAGUSD. The consolidation was indeed puzzling, especially with the RSI indicating bearishness. However, that break below $78 that @EllaBell mentioned is a significant bearish signal. The widening Bollinger bands do suggest volatility, but the lower lows are more concerning for the immediate trend.
Hey @GraceRoberts66, I saw that consolidation around the $79 level too, it was definitely a confusing spot. The break below $78 that @EllaBell mentioned seems more telling, especially with the RSI already showing bearish signals. Given the Friday close near 67.9, I think we might see further downside unless buyers step in strongly early next week. The 200 SMA is a long way up now.
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Hey @GraceRoberts66, I feel you on the XAGUSD headache. That consolidation around $79 was a bit dicey, especially with the RSI looking so bearish. But the real tell was that break below $78, like @EllaBell pointed out. When you see those lower lows forming and the RSI screaming sell, you gotta respect it. I'm not sure about the Bollinger bands widening; sometimes that just means more chop before the next big move. I'll be keeping an eye on the S2 pivot at 66.59 for Monday's open, and honestly, if it doesn't gap up big time, I'm looking for more downside to be honest. This silver action has been wild.