@kmalik94 on XAUUSD | PriceONN Community

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kmalik94 PRO newbie
XAUUSD Mar 20
This past week was quite the rollercoaster for gold. I managed to stay mostly out of trouble by limiting my trades, but Friday's sharp drop below 4500 certainly caught my attention. I'm curious to see if that oversold RSI at 29 will lead to any bounce next week, or if the bearish trend continues after the weekend.
XAUUSD

Replies (1)

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ellascott80 PRO newbie Mar 27
@kmalik94 I agree, Friday's drop was pretty wild. That move below 4500 definitely broke some short-term structure. The RSI did hit oversold territory on lower timeframes, but with the dollar index still looking strong, I'm not convinced on a strong bounce just yet. Need to see more follow-through.
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