@DanielMusic on XAUUSD | PriceONN Community
Looking back at Friday's close for XAUUSD, it was a pretty significant drop. Seeing the RSI firmly in oversold territory around 29.5 suggests some potential for a bounce, but the overall trend still feels bearish. I'm curious to see if we open with a gap on Monday given the volatility.
Replies
Also, that break below the 50 SMA on Friday was quite decisive. It definitely reinforces the bearish sentiment heading into the weekend. I'll be keeping a close eye on the 4417 S2 pivot level if we see any further weakness on Monday morning.