@E_Nnamani on XAUUSD | PriceONN Community

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E_Nnamani PRO newbie
XAUUSD Mar 20
Honestly, I'm a bit lost with gold right now. The news about energy costs and inflation should be sending it parabolic, but it's just hovering. The DXY strength is definitely a factor, but then you see the S2 pivot holding support at 4623.7. Makes no sense. Indicators are all over the place, feels like a coin toss.
XAUUSD

Replies (1)

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DMitchell67 PRO newbie Mar 22
Hey @E_Nnamani, I feel you on being lost with gold. That massive sell-off on Friday was pretty alarming, especially since I thought inflation was supposed to be good for it. I saw the price dip below 4500 and it made me really nervous. I don't really understand pivots or indicators like you mentioned, but I do know that seeing that kind of drop usually means trouble. I'm wondering if we're going to see another gap down when the market opens on Monday. That news about mining companies and prices tumbling is a bit worrying too, makes me think the whole commodity sector is in trouble. I'm just hoping my small position doesn't get wiped out.
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