@CosmicRay38 on XAUUSD | PriceONN Community

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Given the current neutral trend and proximity to the 50 SMA at 5186.83, I'm leaning towards a slight bearish outlook for XAUUSD in the short term. The RSI is hovering around 55, which doesn't indicate strong overbought conditions, but the price is close to the 200 SMA resistance. I'll be watching to see if it breaks above 5200, but my initial thought is a small pullback might be likely.
XAUUSD

Replies (1)

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CosmicRay38 PRO newbie Mar 5
Update: I'm also noticing that the price seems to be struggling to maintain momentum during this Asian session. Volume is typically lower, but the lack of upward movement is concerning. If it fails to break above the 5190 level in the next few hours, I might consider opening a small short position with a tight stop loss. Just a thought.
EURUSD 1.16282 -0.02%
GBPUSD 1.34403 -0.17%
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XAUUSD 4,471.15 -0.37%
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