@tshepo8976 on XAUUSD | PriceONN Community

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T
Watching XAUUSD around the 4390 level here. Seeing some consolidation just above the 20-day SMA, which is currently around 4392. Historically, this area has seen some decent bounces. Anyone else noticing a potential support build-up here, perhaps a small reversal pattern forming on the 15-minute?
XAUUSD

Replies (1)

T
tshepo8976 PRO newbie Mar 24
Actually, on closer inspection, the RSI on the 15-minute chart is starting to tick up from just below 40. It's not a full divergence yet, but it does suggest some waning selling momentum. If we can break decisively above the current pivot point around 4412, we might see a short squeeze develop.
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