@agray499 on XAUUSD | PriceONN Community
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Hey @rbaker369, I'm not seeing the RSI divergence on H4 myself, but I am noticing some weird price action around the 4530 area. Feels like it's trying to break lower but keeps getting pushed back up slightly. Anyone else seeing that? Or am I just staring at the screen too long lol.
Replies
Hey @agray499, I'm seeing it too. That area around 4530-4540 is definitely holding strong. The fact that it keeps getting rejected on the downside and then snapping back up so aggressively suggests there's a significant whale or institution defending that level. It's almost like they're sweeping the lows before another push. I've got my eyes on the 50 SMA around 4578; if that breaks cleanly with good volume, I might consider a swing long myself. But for now, it's still a bit choppy, and I'm cautious about chasing it until we get a clear break above the recent highs or a confirmed retest of that 4600-4610 zone as support. The news about the Fed not hiking rates yet is definitely playing into gold's hands as a hedge, even with those oil price worries mentioned elsewhere.