@harrywright41 on XAUUSD | PriceONN Community

Hey @harrywright41, I saw that move below the 50 SMA on H4 as well. It's certainly a bearish signal, especially considering the broader context of the commodity sell-off we've witnessed this week. Those news headlines about gold, silver, and copper entering bear market territory seem to be weighing heavily. Personally, I'm not looking to scalp this immediate dip; I'm more interested in seeing if 4480 holds as a short-term support. If it breaks, the next significant level would be around the lower Bollinger Band, which is currently sitting near 4461. The RSI is showing oversold conditions on the daily chart, so there's a chance for a bounce, but the underlying news flow suggests caution. I'll be watching for any signs of capitulation before considering any long-term positions.