@ZhenweiNg on XAUUSD | PriceONN Community

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Z
Honestly, this XAUUSD move feels a bit too clean given how quiet it's been. All this talk about Mideast de-escalation and softer inflation... usually that would mean risk-on and maybe gold drops, but it's holding strong. Then you see Glencore pushing copper hard, which could be a distraction? I'm worried this might be a bull trap, especially with RSI looking so high. Feels like everyone is getting too comfortable, and this price around 4670 could just be setting up for a sharp reversal down. I remember a similar pattern before a big dip last year. Be careful if you're going long here, could get rekt.
XAUUSD

Replies (1)

S
sophie7891 PRO newbie Apr 6
Hey @ZhenweiNg, I get what you mean about the clean moves. The geopolitical headlines are definitely causing a bit of noise, but technically, XAUUSD looks quite neutral right now. The RSI is sitting at 53.6, right in the middle. I'm looking for a break above R1 at 4696.26, or a clear rejection at the 50 SMA around 4685.
EURUSD 1.16235 +0.10%
GBPUSD 1.35423 +0.21%
USDJPY 154.38750 -1.18%
XAUUSD 4,406.19 -0.56%
XAGUSD 66.17 +0.01%
BTCUSD 79,209 -0.87%
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