@AidenR40 on XAUUSD | PriceONN Community
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The Friday close was interesting... XAUUSD dipped below 5020, but then recovered slightly. Shows some buying pressure at that level, but not enough to negate the overall bearish trend from the week. The weekly loss is significant, and the dollar is still looking strong. I'm thinking any rallies early next week will be short-lived unless we see a significant shift in market sentiment. The mideast tensions fueling inflation fears are still a major factor. Might consider shorting rallies towards the 50 SMA around 5122.17 if the opportunity presents itself.