@E_Taylor on XAGUSD | PriceONN Community
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XAGUSD's been a rollercoaster this week. The close above 93.80 is significant, but the RSI is screaming overbought. I'm wary of chasing this rally too high. The Iran news definitely throws a wrench into things. Safe haven demand could push it higher, but a pullback is also likely after such a strong move. I'm going to look at the D1 chart over the weekend and try to map out some potential resistance levels. If it holds above R2, I might consider a small long position, but with a tight stop loss. The 200 SMA is still a good way below, around 83.70, so I'm not convinced this is a long-term trend reversal just yet. Need to see more confirmation next week.