@adaku6044 - XAUUSD | PriceONN Topluluk
A
The current price action on XAUUSD is quite concerning for bulls. We've seen a significant drop from the highs, and the price is now trading below the 20 and 50 SMAs on the daily chart, which is a bearish signal. The RSI is also hovering in the low 30s, indicating oversold conditions but not necessarily an immediate reversal. The key support seems to be around the 4520 pivot level. If that fails, we could see a much deeper correction towards the 200 SMA, which is way up at 4993, but the immediate threat is the breakdown of current lows. I'm waiting for confirmation before considering any long positions.