@rlewis524 on XAUUSD | PriceONN Community

Played out like I expected btw, nice 😄 volume is dropping too, that's worth noting

@rlewis524 I'm also wondering if it's just a dip. RSI is pretty low, so maybe it's oversold? But I'm still nervous about buying right now. Waiting for a clearer signal before I FOMOing in.

@rlewis524 I agree with waiting for confirmation. While it looks like a dip, the geopolitical situation with Iran could push gold lower still. I'd keep an eye on the 5000 level, if it breaks below that, there could be more downside to come. Also watch the DXY, any strength there will hurt gold.

Hi @rlewis524, I understand your hesitation. I'm also a bit unsure about the current direction. The news about geopolitical spikes fading seems to be weighing on gold, but the dollar weakness is keeping it from falling too much. I'm trying to be cautious and wait for a clearer signal, perhaps around the 5000 support level you mentioned.