@OscarDiver on XAUUSD | PriceONN Community
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Just caught a bit of a YouTube analysis from 'ChartMasterFX'. He was talking about how the current geopolitical tensions, particularly around Iran, are creating this strange dichotomy. Gold is technically bearish below the 50 SMA, but the underlying fear premium is keeping it from collapsing. He thinks we might see a short squeeze if any positive news breaks.
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Hey @OscarDiver, interesting points from that ChartMasterFX guy. I agree that the geopolitical stuff is really muddying the waters for gold right now. It's hard to ignore the fear premium keeping it afloat, even if the technicals aren't screaming bullish. We saw that dip below the 50 SMA, but it didn't really follow through, which is weird. With the dollar weakening due to Iran talks, I'm actually leaning a bit bullish for next week. I think if that fear factor continues, we could see a nice move up, maybe targeting those R1 or even R2 pivots if the news keeps pushing it. It's tricky though, because a sudden shift in those talks could reverse everything quickly. Definitely something to watch.