@sophie3653 on XAUUSD | PriceONN Community

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S
Good evening, Ryan. I understand your caution regarding the current XAUUSD price action. While the RSI does appear oversold, I'm not seeing immediate bullish confirmation. A hanging man candlestick pattern has formed on the H4 chart, which often signals indecision or a potential reversal, but we need to see follow-through on the next few candles before considering a long position.
XAUUSD

Replies (1)

S
sophie3653 PRO newbie Mar 16
Further to my previous comment, if we do see a break below the 4980 level, I'll be looking for shorts. The 50-day SMA is also sitting around 5075, acting as resistance, which adds to my bearish outlook for now. It's a bit late, and I should probably be heading to bed, but I'll set an alert just in case.
EURUSD 1.16091 -0.03%
GBPUSD 1.35079 -0.04%
USDJPY 156.13050 -0.07%
XAUUSD 4,402.83 -0.63%
XAGUSD 65.78 -0.59%
BTCUSD 79,665 -0.30%
SP500 6,572.87 +0.74%
BRENT 95.03 +0.82%
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