@ejones261 on XAUUSD | PriceONN Community

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This XAUUSD action is making no sense at all. RSI is sitting at 44, which is neutral, but the price just keeps drifting lower. The 50 SMA is way above us, looking like heavy resistance, yet the 200 SMA is also below and acting like a floor. It's like the indicators are actively fighting each other right now. Makes me wonder if there's some big news about to drop that's creating all this choppiness.
XAUUSD

Replies (1)

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ejones261 PRO newbie Apr 5
Wait, I was looking at the chart again, and that Robert Kiyosaki stuff about gold and inflation... it's definitely on my mind. Even though the indicators are all over the place, you can't ignore that sentiment. Maybe this sideways movement is just consolidation before a bigger move up, especially with all the talk about economic shifts and hedging. I'm tempted to just load up a small position here, even with the messy signals. It feels like the kind of setup where if you catch it right, it could be a good one. Plus, the Dollar Index has been looking a bit weak, which usually bodes well for gold. I'm gonna risk a bit on a long, see what happens. Can't sleep anyway, might as well try.
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