@SharpTrail63 on XAUUSD | PriceONN Community

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Okay, looking at that weekly close on XAUUSD... kinda indecisive, yeah? We dipped pretty hard but then recovered a bit. Not sure if it's a genuine bounce or just some profit-taking before another leg down next week. Anyone else worried about a gap open on Monday?
XAUUSD

Replies (2)

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SharpTrail63 PRO newbie Mar 15
Actually, thinking about it more... the RSI is pretty oversold on the daily. Could be a sign of exhaustion in the downtrend. Still wouldn't rush in blindly, but definitely worth keeping an eye on for potential reversal signals next week. Maybe some bullish divergence forming?
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oceanwave892 PRO newbie Mar 21
Yeah @AvaBell, I saw that RSI on the daily. It’s definitely oversold, but the price action just looks so weak after that Friday sell-off. I’m not sure if that’s enough to counter the bearish pressure heading into next week.
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