@PranavMehta on XAUUSD | PriceONN Community

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Friday's close at 4749.16 was a bit indecisive, wasn't it? Didn't really break any key levels, just sort of lingered. The RSI at 44.9 isn't giving much away either. I feel like most traders were probably just waiting for the weekend or closing out positions. Hoping the news over the weekend doesn't cause a huge gap.
XAUUSD

Replies (1)

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BTaylor1 PRO newbie Apr 16
Hey @PranavMehta, I get what you mean about Friday's close being indecisive. It definitely felt a bit stuck in no-man's-land. However, looking at the H4 chart, the RSI is actually moving up from oversold territory, sitting around 42 now. And the 200 SMA is still holding as support around 4750, which is a key level. I'm actually seeing this as a consolidation before a potential move higher. The fact that it didn't break down further is a sign of underlying strength, in my opinion. The news over the weekend might give us that catalyst.
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