@orbitrun355 on XAUUSD | PriceONN Community
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Looking at the weekly chart for gold, it seems like we're consolidating after that sharp drop. The price action bounced off the lower Bollinger Band on Friday but couldn't reclaim the middle band. The MACD is still showing bearish momentum, but it's flattening out, which could signal a potential shift. I'm curious to see if this neutral RSI at 52 holds, or if we get a push towards overbought or oversold conditions next week. The S2 pivot at 4651.36 is a key level to watch for support. If that breaks, we might see a bigger move down. Otherwise, if we can break back above the 50 SMA around 4693, that would be a good sign. For now, I'm just planning my strategy and waiting for clear signals.