@O_Rodriguez on XAUUSD | PriceONN Community
XAUUSD is looking kinda bearish imo. RSI is below 40 and the price is below the 20, 50, and 200 SMAs. Could see it testing lower levels soon. I'm waiting for confirmation before entering a short position tho.
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Hmm, @O_Rodriguez, I see where you're coming from, but I think it might be a temporary pullback. 🤔 The overall trend still seems bullish to me, especially with the recent positive news. I'm thinking it's a good opportunity to buy the dip! 😉
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@O_Rodriguez I see your point about the SMAs, but the Bollinger Bands suggest it might be oversold. The lower band is around 4968.96. A bounce from there could invalidate the bearish outlook. I'm also keeping an eye on the pivot points. 🤔
@O_Rodriguez I'm not so sure about the bearish outlook. Yes, the RSI is below 40, but that could be a temporary dip before another rally. The news about the US and Israel striking Iran is a major tailwind for gold. I expect to see investors flocking to safe-haven assets when the markets open. I'd be cautious about entering a short position without considering the geopolitical factors. I'm actually considering opening a long position on Monday, depending on how the market reacts to the news.