@chloedavis on XAUUSD | PriceONN Community

On further reflection, that Friday close is actually quite telling. The fact that it didn't collapse further despite some of the news flow really suggests underlying support. I'm particularly interested in how the 50-day SMA around 4693 acts as resistance next week. If we can push through that, with the RSI looking fairly balanced at 52, it might signal a shift. I'll be reviewing my watchlist for potential entries if that happens.

Hi @chloedavis, I agree with you about the neutral zone holding. It's interesting how gold found a floor around $4676 despite all the news about inflation and geopolitical stuff. I read something this weekend about Robert Kiyosaki recommending gold as a hedge against inflation, which might be supporting it. I'm not sure if that's the main driver, but it's definitely something to consider. I'm also a bit nervous about the potential gap open on Monday. I've seen gaps move prices pretty quickly and I don't want to be caught on the wrong side of it.