@oking219 on XAUUSD | PriceONN Community
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Anyone else noticing the RSI sitting around 45? Feels like it's just hovering, not really giving a strong signal either way. I'm watching the 50 SMA at 5009.67 as a potential pivot for the next move. Bit of a sleepy session on XAUUSD tonight, eh?
Replies
Hey @oking219, I noticed that RSI hovering too. It's definitely in that tricky zone where it's oversold but not necessarily screaming for a buy. My main concern is that bearish close on Friday, pushing us below the 200 SMA on the daily chart. That's a significant level to break. I'm watching the 4518 pivot point closely for Monday; if we can't reclaim that quickly, I think we could see further downside. The recent news about commodity prices tumbling doesn't help sentiment either, making me cautious about any immediate bullish setups. I'll be looking for confirmation on the H4 chart, maybe a bullish divergence on the MACD, before considering any long positions.