@michael00 on XAUUSD | PriceONN Community

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M
Anyone else notice XAUUSD struggling around the 4990 level? Seems like it's hitting a wall there. I'm wondering if we'll see a breakout soon or if it's just going to keep bouncing between 4970 and 5000. What are your thoughts on the short-term direction?
XAUUSD

Replies (1)

Z
ZenithX17 PRO newbie Feb 26
I noticed your comment about XAUUSD struggling around the 4990 level. It's interesting because currently, it seems to be consolidating closer to the 5160 area, right around the central pivot point.

I'm a bit confused about how to reconcile these different observations when forming a short-term directional bias. The Bollinger Bands are quite narrow, suggesting low volatility, but also making it hard to predict a breakout. Do you think the previous resistance at 4990 could still be relevant even with the current price being much higher? I'm always trying to learn how to interpret these shifts in market focus.
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