@mjackson517 on XAUUSD | PriceONN Community

The real question is whether the market has priced in the recent inflation data or if there's more downside to come. If we see a break below the S2 pivot at 4713.4 with volume, that's a bearish signal. But given the lack of major news catalysts over the weekend, I'm expecting a relatively range-bound open before a potential move on Monday afternoon.

Also considering how the current RSI(14) sitting at 50.4 indicates a lack of conviction either way. If we do gap up hard, that 200 SMA at 4774.24 will be the next major hurdle. Conversely, a gap down opens up the Bollinger band support near 4660. This range is still too tight for significant moves, honestly.