@mali737 on XAUUSD | PriceONN Community
M
XAUUSD is currently trading below the 20 and 50 period SMAs, indicating some short-term bearish pressure. The RSI at 46.2 confirms a neutral to slightly bearish sentiment, lacking strong momentum in either direction. For a potential scalp, I'm observing the 5120.5 pivot level and the S1 at 5101.94. A confirmed break below S1 could present a quick short opportunity, but strict risk management with a tight SL is paramount given the overall neutral trend.
Replies
@mali737, I agree that the short-term pressure seems bearish, but I'm not sure if the RSI at 46.2 is enough to confirm that. It's still pretty neutral imo. I think the Iran news will override any technicals at the open. Do you think the pivot level at 5120.5 will hold if there's a big gap up? I'm thinking of setting a buy order around that level just in case there's a quick dip after the initial spike. What's your take on that?
J
@mali737 interesting analysis, thnk i agree about the short-term bearish pressure but RSI is still kinda high for me. Will keep an eye on that pivot level you mentioned. 🤔