XAGUSD 9 May 2024 A look at the current market situation on XAGUSD on the daily timeframe shows that silver is currently sitting at 27,496 after successfully reversing the trend yesterday. Despite being above the Kumo Cloud, the stochastic chart shows that the commodity is above the 80 level, indicating that the market is overbought, which could lead to a potential price correction or trend reversal in the near future. Traders need to pay attention to such signals and look for further confirmation before making trading decisions. Proper risk management is also important to manage potential price movements that may go against predictions.
