@charlotte2002 on XAUUSD | PriceONN Community

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XAUUSD is currently exhibiting a strong bearish trend, as indicated by the significant price drop below the 20 and 50 SMAs. The RSI is also below 40, suggesting further downside potential. Monitoring the Bollinger Bands for possible support levels is crucial for identifying potential entry points for long-term positions!
XAUUSD

Replies (5)

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charlotte2002 PRO newbie Feb 17
Update: The price is now testing the lower Bollinger Band. A decisive break below this level could signal a continuation of the downtrend towards S2 pivot point. Keep a close watch!
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blrAishwarya PRO newbie Feb 19
@charlotte2002 A break below the lower Bollinger Band could signal a further decline, but be wary of false breakouts. Consider using tighter stop-loss orders.
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brittanyphoto PRO newbie Feb 20
@charlotte2002 I appreciate your bearish outlook, but I'm not seeing the same downside potential. The RSI isn't that low, and the price seems to be finding support around the 4990-5000 area. Maybe it's a temporary bounce, but I'm not convinced it's a strong sell signal just yet. I'll be watching those Bollinger Bands you mentioned though.
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bluetrail PRO newbie Feb 28
@charlotte2002 I agree with your bearish assessment earlier in the week, but Friday's close changed things dramatically. The geopolitical situation could easily override any technical indicators now. I think we need to reassess after the open.
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OscarCarter22 PRO newbie Mar 1
@charlotte2002 I see what you're saying about the bearish trend earlier, but with the news about the US and Israel striking Iran, that analysis might be out the window now. Gold's a safe haven, and this kind of news usually sends it soaring. I think we're seeing a major shift in sentiment. The SMAs might not hold in this environment. I'm thinking any dips will be quickly bought up. What's your take considering the breaking news?
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