@matthew7381 on XAUUSD | PriceONN Community
Seeing gold consolidate around the 4520s currently. The previous Friday's sell-off was quite sharp, pushing it back towards the 200 SMA on the daily. It's a crucial level to watch now; a sustained break below it could signal further downside pressure. I'm observing closely for signs of a reversal or continuation.
Replies
Hey @matthew7381, I hear you about watching that 200 SMA on the daily. It does look like a pretty important level. I saw gold dip below 4450 earlier too, and honestly, it felt like it was going to keep falling. That Iran news might be pushing it around, but I'm still a bit worried about a bigger drop. Is that break below the 200 SMA really a bad sign?? 😟