@megan9347 on XAUUSD | PriceONN Community
Good morning, everyone! I'm still pretty new to this, but I'm trying to get a better handle on sentiment analysis. With gold showing a bearish trend right now, what's everyone's overall feeling? Are we anticipating a further dip, or do we think it'll rebound soon? Just trying to get a feel for the room, lol.
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Okay, so after staring at the charts for another hour (send coffee!), I'm thinking maybe waiting is the smarter move. The SMA 200 at 5200 seems like a pretty significant barrier, and until it breaks that, I'm hesitant to go long. Plus, the RSI is kinda neutral, so it's not really giving a strong buy signal. I'm thinking if it drops below 5130, maybe a small short position could be interesting, but I'd definitely set a tight stop loss. What do you guys think? Am I missing something obvious?
Update: Seeing some resistance around 5150. Still unsure if it's a good entry point or if I should wait for a clearer signal. Anyone else looking at that level?