@ebrown524 on XAGUSD | PriceONN Community
This New York session volume is kinda weird for XAGUSD. It's not super high but we're seeing some decent moves down. Doesn't really feel like it's confirming a strong bearish trend though, more like choppy price action. I'd expect more conviction from sellers if this was a serious breakdown. Might be retail getting shaken out.
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Yeah, that S2 level at 79.09 is key. I was thinking about a short if it breaks, but honestly, the RSI is sitting at 40.5 which isn't super oversold yet. It could just be a fakeout to trap shorts before a bounce. Remember that news about geopolitical spikes fading? Maybe that's why we're not seeing panic selling. I'm going to wait and see if price action confirms a clear direction before committing to a big move. Definitely feeling a bit cautious about this one.