@michael8972 on XAUUSD | PriceONN Community
M
XAUUSD is showing some interesting behavior around the 4977 level. The RSI is nearly neutral, so I'm not seeing a strong directional bias. However, the price is below the 200-day SMA, which could indicate potential resistance. I'm waiting for a clearer signal before entering a position. Any thoughts on how the Bollinger Bands might play into this?
Replies
M
Update: I'm noticing a slight bullish divergence forming on the hourly chart. If the price breaks above 4980, it might confirm the upward move. Keeping a close eye on it!
@michael8972 Your observation about the 200-day SMA acting as resistance is valid. Keep an eye on price action around that level for confirmation. A break above could negate the resistance.