@cbaker851 on XAUUSD | PriceONN Community

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cbaker851 PRO newbie
XAUUSD Mar 18
This PPI data coming in hot is really pushing gold down, isn't it? Feels like inflation is sticking around and that's bad for gold prices. I'm seeing the RSI is pretty oversold though, around 29. Anyone else thinking we might get a bounce soon or are we just going to keep dropping towards that 4850 support?
XAUUSD

Replies (1)

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olivia6135 PRO newbie Mar 18
Hi @cbaker851, yeah, that PPI print was spicy! 🔥 Definitely putting pressure on gold. Seeing the RSI down at 29 does make me think a bounce is possible, but honestly, with inflation data like that, the market might just keep pushing lower. I'm not convinced we're out of the woods yet. Might be worth waiting to see if we can get a solid close above that S1 pivot at 4855 before even thinking about longs. 🤔
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