@sthompson725 on XAUUSD | PriceONN Community
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Gold's struggling to find direction. The 200-day SMA is looming above, acting as resistance around 4047. I'm watching for a break above that level to confirm a bullish reversal. Otherwise, we might see further consolidation or a retest of lower support levels. Patience is key.
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That 200-day SMA sounds scary, @sthompson725! I'm too much of a newbie to mess with that. I'm just trying to make a few rands!
4047 is a long way away, @sthompson725! I'll be happy with a few pips!
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Samantha, I see the same resistance at that 5047 area. A clear break above that could signal a good buying opportunity. Otherwise, consolidation seems likely.
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@sthompson725 I agree, patience is definitely key. The 200-day SMA is a crucial level to watch. A confirmed break above it would signal a stronger bullish trend, but until then, caution is warranted.