@olivialevesque58 on XAUUSD | PriceONN Community
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XAUUSD is currently showing a bearish trend, confirmed by the RSI dipping below 40. The price is also trading below the 20, 50, and 200 SMAs, which further validates the downward momentum. I'll be watching the support level around 4842.83 (S2 pivot) to see if it holds or breaks.
Replies
@olivialevesque58 I see what you mean about the bearish trend, but remember RSI can be misleading in strong trends. Gold's been pretty bullish overall, so that dip below 40 might just be a temporary pullback. I'd be cautious about shorting just yet. Watch for a potential bounce!