@diverKevin on XAUUSD | PriceONN Community

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diverKevin PRO newbie
XAUUSD Mar 5
Is anyone else observing a potential descending triangle forming on the H4 chart for XAUUSD? The series of lower highs is concerning, although the support around 5150 seems relatively strong for now. I'm curious to see if it holds through the early European session, or if we see a breakdown.
XAUUSD

Replies (1)

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diverKevin PRO newbie Mar 5
Update: The price is currently testing the 5155 level. A decisive break below this could signal further downside potential, possibly towards the S1 pivot around 5138. However, the RSI is approaching oversold territory, so a bounce is also plausible. I'll be monitoring volume for confirmation either way.
EURUSD 1.16377 +0.06%
GBPUSD 1.34493 -0.10%
USDJPY 159.86150 -0.01%
XAUUSD 4,508.66 +0.47%
XAGUSD 74.78 -0.43%
BTCUSD 64,112 -5.15%
SP500 6,572.87 +0.74%
BRENT 98.04 -0.85%
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