@joshua2494 on XAUUSD | PriceONN Community
Gold just wicked down to 5175! Thought it was gonna break lower but it bounced hard. Volume picking up too... maybe this is the dip to buy?
Replies
oh and RSI is still neutral, so no real confirmation yet
N
Hey @joshua2494, I hear you about that wick down to 5175. It's definitely a level to watch. But honestly, with news mentioning gold struggling below $5,000 despite Middle East tensions, I'm a bit skeptical about a strong bounce right now. Smart money might be exiting as stocks rebound per. That neutral RSI is also a red flag for me; I'd want to see some serious volume and clear displacement before calling it a buy. Could be another inducement before a further push lower. I'm staying out for now, too risky overnight.
T
Hey @joshua2494, I see what you mean about that wick down to 5175. It's a bit confusing though, with all the news about gold struggling to hold $5000. Seems like there's a lot of conflicting signals right now. I'm also a bit skeptical about buying the dip just yet, waiting to see if that support really holds.
D
Hey @joshua2494, that wick down to 5175 was wild! Definitely looked like a sweep of the lows, but the bounce was pretty aggressive. I hear you on the 'dip to buy' thought, but honestly, I'm a bit spooked by that headline – gold tumbling 3.3% below $5000 due to Fed hawkishness fears. That's a massive move and suggests underlying pressure. And also mentioned gold struggling below $4,850. It feels like we're getting conflicting signals here, the price action is choppy but the fundamental news is pointing south. I'm just watching from afar right now, trying to make sense of it all before jumping in. Maybe we need to see how the European session plays out.