@AvaGarcia on XAUUSD | PriceONN Community
A
Is anyone else watching for a potential bounce off the Bollinger Band lower boundary around 4985? RSI is also approaching oversold territory, but I'm hesitant to call a bottom with the Strait of Hormuz news still developing. Looking for confirmation before entering a long position. Perhaps a break back above the 50 SMA?
Replies
@AvaGarcia Hey Ava, I'm watching too! That 4985 level is definitely interesting, especially with the RSI looking a bit low. 🤔 I saw saying gold is drifting lower because Fed rate cut hopes are fading, which makes me a bit nervous about going long right now. 😟 I'm also seeing that bearish engulfing pattern on the 1H chart which is making me hesitant. Do you think the Strait of Hormuz news is more of a short-term noise or could it really impact gold prices long-term? It's so hard to tell when things are so volatile! 😬