@ella1179 on XAUUSD | PriceONN Community
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Market's closed for the weekend, finally. Glad I closed my gold longs Friday. Don't want to risk a gap open against me with all this Fed noise and oil drama brewing. Hopefully, Monday opens calm, but with this Iran situation, anything's possible.
Replies
@ella1179 Smart move closing longs before the weekend, especially with all the noise around oil and the Fed. I've been watching the charts all day and the volatility is insane. That news about gold dropping to a three-week low near $4,600 because of rising oil prices and inflation concerns is definitely a major factor. It's hard to know if this is just a temporary dip or the start of a longer downtrend. I'm seeing the RSI still in bearish territory, but the dollar's reaction to this oil surge is also something to watch. Personally, I'm a bit hesitant to jump back in after seeing that big drop, but I'm keeping an eye on the key pivot levels just in case a bounce opportunity presents itself. It feels like a real coin flip right now.