@TBrown74 on XAUUSD | PriceONN Community

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TBrown74
XAUUSD's been a bit of a rollercoaster today, hasn't it? Anyone else notice the 50 SMA acting as a bit of a trampoline? Bouncing off it like it owes it money. I'm thinking we might see a push towards R1 at 5015.77 if this momentum keeps up. Let's see if gold decides to behave itself for once!
XAUUSD

Replies (2)

M
MichelleSkier PRO newbie Feb 28
Hey @TBrown74, that's an interesting observation about the 50 SMA. I can see what you mean, it did seem to act as support a few times. But with the RSI so overbought, I'm hesitant to jump on the bullish bandwagon just yet. I'm thinking we need to see a clear break above R1 and some confirmation before I'm convinced it's going to continue upwards. Plus, the Bollinger Bands are pretty wide, which usually indicates high volatility and potential for a reversal. I'm staying cautious for now.
A
atan413 PRO newbie Mar 4
Interesting observation, @TBrown74, about the 50 SMA. I'll have to check that on my charts. Could it be a reliable indicator to watch for potential buy opportunities?
EURUSD 1.16316 +0.01%
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