@kevin2742 on XAUUSD | PriceONN Community

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kevin2742
kevin2742 PRO newbie
XAUUSD Mar 4
I must confess, I'm feeling a bit perplexed by XAUUSD's price action today. The initial drop was quite significant, almost alarming, but the subsequent rebound has been equally vigorous. It's as if the market is struggling to decide on a definitive direction. The RSI oscillating around 50 further reflects this indecision. I'm hesitant to commit to a position without greater clarity. Perhaps waiting for a breakout from the current range is the most sensible approach. Anyone else feeling this ambiguity?
XAUUSD

Replies (1)

S
spectrax631 PRO newbie Mar 5
Regarding your perplexity @kevin2742, the RSI bouncing around 50 suggests indecision, but the overall trend still looks bearish. I'd be cautious about going long until we see a confirmed break above the 5100 resistance.
EURUSD 1.14436 -0.13%
GBPUSD 1.34773 -0.45%
USDJPY 162.42862 +0.16%
XAUUSD 4,001.21 -1.46%
XAGUSD 56.16 -2.73%
BTCUSD 64,630 -0.53%
SP500 6,572.87 +0.74%
BRENT 83.79 -0.83%
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