@RyanMartin95 on XAUUSD | PriceONN Community
Watching XAUUSD around the 4406 level. The 50-day SMA is sitting at 4515, which is acting as resistance. Price is currently below the 20-day SMA as well (4356). The RSI is sitting at 48, pretty neutral, but we've seen some significant downside pressure today. I'm looking for a clear break above that 50-day SMA to consider any bullish setups, otherwise, the path of least resistance seems downwards for now.
Replies
@RyanMartin95 dude, 4406 level? I'm thinking way bigger picture. That 4500+ surge on Friday was fueled by some serious geopolitical stuff, not just technicals. If that Iran situation keeps boiling, gold's going way higher. Don't get caught on the wrong side of a gap up Monday morning!