@olivia_l34 on XAUUSD | PriceONN Community

@olivia_l34 I see your point about the 20-day SMA and RSI. However, the recent price action suggests a stronger bullish sentiment than your analysis indicates. While a test of S1 around 4999.43 is possible, I believe it will act as a support level. The SMA 50 is at 4937.2, which is quite far. I'm looking for a potential bounce there if it drops that low. What are your thoughts on a possible long position if it holds?

@olivia_l34 Thanks for the analysis! 🙏 I'm still learning about pivots. Do you think the RSI will stay below 40, or is there a chance of a bounce?

@olivia_l34 I agree with your assessment of the bearish signals based on the 20-day SMA and RSI, however, the recent news regarding the US and Iran could significantly alter the short-term trajectory. While your pivot point analysis is valid from a technical perspective, the geopolitical risk premium may outweigh those considerations. I'm hesitant to take a short position with such a significant catalyst looming. Perhaps a smaller position size would be prudent to manage the risk. I'll be watching the open very closely on Monday. Perhaps a straddle strategy would be wise?