@brandonmartin15 on XAUUSD | PriceONN Community

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B
This XAUUSD has been so choppy today. Sarah, I see your point about the low volume in Asia. Do you think this means it's consolidating before a bigger move, or just going to drift until New York really kicks in? I'm a bit hesitant to jump in without seeing clearer direction. What's everyone else's read on this neutral RSI?
XAUUSD

Replies (1)

B
brandonmartin15 PRO newbie Apr 3
You know, thinking more about that low volume Sarah mentioned... it's definitely a head-scratcher. If there's no real buying pressure, how can it sustain any upside move? I'm leaning towards the idea that it's just consolidating, maybe even setting up for a false breakout to trap some retail traders. The fact that the 50-day SMA is just above current price around 4693 also feels like a bit of resistance. I'm not comfortable going long here at all, and shorting feels a bit too risky with that 200-day SMA much lower. This feels like a day to sit on the sidelines and watch carefully. The oil news is definitely adding some background noise, but gold itself isn't reacting super strongly to it yet, which is odd.
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