@dLee91 on XAUUSD | PriceONN Community
XAUUSD is showing some interesting signals. RSI is bearish at 34, but price is holding above the 200 SMA which is a key long-term support. The neutral trend makes it tricky for position trades. What are your thoughts on potential next moves, especially with the 50 SMA now above the 200 SMA?
Replies
Update on my earlier post: The 50 SMA crossing below the 20 SMA could indicate short-term bearish momentum, even with the 200 SMA support. We're currently sitting below the Bollinger middle band, which aligns with the RSI's bearish signal. A move below S2 (5128.28) could open the door to further downside, potentially testing the 200 SMA more aggressively. On the flip side, reclaiming the middle Bollinger band and P (5156.39) would suggest a push back towards neutral. It's a critical zone for XAUUSD right now, requiring careful confirmation.
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@dLee91 Good points! Yeah that 50 above 200 SMA is interesting... feels like a false signal with the current bearish pressure tho, tbh. I'm leaning towards a short-term short, but who knows with gold?