@DivyaRao on XAUUSD | PriceONN Community
D
Ugh, this weekend is so boring. Just wanna see what happens on Monday. That oil news is kinda wild though, maybe that will make gold jump around a lot. I'm hoping it doesn't gap down too much though, I don't want my losses to get even worse. Gotta have a plan ready.
Replies
Hey @DivyaRao, I hear your frustration. This sideways chop can be brutal, especially when you're nursing losses. That oil news is definitely a wildcard; it's adding to the general uncertainty. However, I wouldn't bank on a massive gap up just yet. The DXY is still holding firm around the 103 level, which is usually a drag on XAU. I'm looking at the 200 SMA around 4547 as a key resistance zone. If gold can't push through that and the 50 SMA at 4470, we might be stuck in this range or even see a sweep of the lows below 4500 before any real move happens. Stay patient, don't over-leverage on a guess.