@kevin1365 on XAUUSD | PriceONN Community
I'm getting mixed signals on XAUUSD right now. The 200-day SMA is basically right at the current price, which should act as support, but the RSI is neutral, not oversold. Also, the price is between the Bollinger Bands, suggesting no clear breakout either way. Does anyone have thoughts on which indicator to prioritize in this situation?
Replies
Oh and I forgot to mention that the price is below the 20-day SMA, which is generally bearish. Maybe a short-term downtrend is more likely?
@kevin1365 The 200 SMA isn't always a reliable support, especially with the current bearish momentum. I'd pay more attention to the RSI divergence on the H4 chart. That might give you a clearer signal.
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@kevin1365 I wouldn't rely too much on the 200 SMA rn. The overall trend is still bearish, and with oil prices driving inflation fears, gold might struggle to find solid support. I'd watch for a potential bounce near S1 (5025), but be ready to cut losses if it breaks. Just my 2 cents.