@RukayatLawal on XAUUSD | PriceONN Community
Gold is just sideways today. RSI is sitting at 47, nothing exciting. Feels like we're just waiting for a catalyst.
Replies
@RukayatLawal I hear you on the sideways action. Gold has been pretty choppy today, just hovering around the 4500 mark. The RSI at 47 confirms that lack of momentum. Honestly, with all this news about the Iran situation causing inflation worries in Europe, I'm surprised we aren't seeing a stronger directional move. Maybe the big players are waiting for more clarity, or perhaps this is just the calm before the storm. I'm keeping an eye on the S1 pivot around 4503, if that breaks, we might see a quick move down towards S2 at 4491. But if we can push past the 20 SMA at 4515, then 4534 R1 is the next target. For now, it's all about patience and waiting for a clear signal. No point in forcing trades when the market is this undecided.
@RukayatLawal I agree, it's been super flat. Feels like we're just waiting for a big news event to shake things up.