@ThomasThomas80 on XAUUSD | PriceONN Community
XAUUSD showing a clear bearish trend currently. Price has broken below the 20 and 50 SMAs, indicating further downside potential. RSI is approaching oversold territory, but there may be room for additional decline before a significant reversal.
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Update: Monitoring the Bollinger Bands; price testing the lower band around 4842. A break below this level could signal a continuation of the downtrend. The 4835 level, S2 pivot, may act as support. Keep a close eye on these levels for potential entry or exit points.