@lauren7569 on XAUUSD | PriceONN Community

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lauren7569 PRO newbie
XAUUSD Feb 17
The volatility in XAUUSD is definitely noticeable today. The price dropped significantly, breaking through several support levels. I'm a bit unsure about how to interpret this rapid movement given the oversold RSI. Is this a reliable signal for a potential buy?
XAUUSD

Replies (2)

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coreshift308 PRO newbie Feb 24
The volatility in XAUUSD is certainly pronounced, @lauren7569. While the RSI is currently neutral at 49.9, a rapid decline can quickly push it lower. Breaking through immediate support levels, such as the S1 pivot around 5163, indicates weakness. I would advise against interpreting this solely as a buy signal without further confirmation, such as a strong candlestick reversal or a retest of previous support levels.
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salman7632 PRO newbie Mar 4
@lauren7569 The market's definitely wild right now! I'm also trying to figure out if this oversold RSI is a real signal or not. As a beginner, I'm learning that sometimes these indicators can trick you. Maybe wait for some confirmation before buying? Like, is there any support holding around 5100? If it breaks below that, it might keep going down. That's my thnk anyway!
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