@ballen922 on XAUUSD | PriceONN Community

So I've been staring at the weekly chart for gold all weekend. It looks so broken right now. That massive red candle on Friday is terrifying, and we're sitting below the 200 SMA. I know the RSI is low, which usually means oversold, but after seeing that news about mining stocks crashing and gold futures dropping like that, I'm really worried. It feels like smart money is getting out. Is there any chance we could see a gap down on Monday? I'm kind of hoping for a bounce, but I'm not sure where it would come from. Maybe it's just going to keep falling until it hits that S2 pivot point Zainab mentioned.