@pilot553 on XAUUSD | PriceONN Community
I'm really struggling to make sense of XAUUSD right now. One minute the RSI looks neutral, then the price is just tanking below the 50-day SMA. It's like the indicators are all giving conflicting signals. I thought we were supposed to see gold react to inflation news, but it's just confusing me.
Replies
Hey @pilot553, I know what you mean. It's hard to follow gold's moves sometimes. I don't really get all the indicators either, I just watch the price. It seems to be going up now, though, which is good for me.
Hey @pilot553, I feel you on the conflicting signals with XAUUSD. The RSI was indeed sitting in that neutral zone, but the price action just kept pushing lower, even breaking that 50-day SMA. It’s frustrating when the indicators don't align. I think the key is to watch the reactions around the weekly pivot point and the S1 level we saw on Friday's close. If it can hold above 4750 early next week, there might be some room to recover. But if that breaks, I'm worried we could see a deeper correction. I'm personally looking to see if it tests the 4740 support before considering any moves.