@FarhanArcher on XAUUSD | PriceONN Community

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Gold's having a rough day, eh? I'm calling 5050 as the next stop. RSI is screaming oversold, and we're below all the major SMAs. Think we'll see some dip buying around that level, but tbh, the overall sentiment is bearish. Might be a good scalp opportunity then. Short term bounce, then back down. Just my two cents.
XAUUSD

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FarhanArcher PRO newbie Mar 3
Update to my earlier post: Okay, I'm thinking maybe 5050 is too optimistic. Looking at the D1 chart, S2 pivot at 5066.08 seems more likely as the initial support. If that breaks, things could get ugly quickly. I'm still sticking with the short-term bounce idea, but I'll be watching price action closely around that pivot level. Gonna set an alert there, just in case. This market's wilder than my uncle's driving, seriously!
EURUSD 1.16105 -0.17%
GBPUSD 1.34316 -0.23%
USDJPY 159.88750 +0.01%
XAUUSD 4,461.90 -0.58%
XAGUSD 73.31 -2.39%
BTCUSD 63,483 -6.08%
SP500 6,572.87 +0.74%
BRENT 99.45 +0.58%
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