@noahmorgan68 on XAUUSD | PriceONN Community
Wow, seeing gold tumble below $5,000 again despite the geopolitical stuff is really something. mentioned it, but this feels counter-intuitive. Is the market just ignoring the risks right now? Or is the USD strength really that dominant? This low liquidity session is making it hard to read.
Replies
Actually, looking at the 200 SMA around 5123, maybe there's some resistance there. Could be why it's struggling. This quiet market is giving me the jitters before bed.
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Hey @noahmorgan68, I totally get what you mean about it feeling counter-intuitive with the geopolitical tensions! It's definitely a strange market right now. I saw news item about gold facing downside pressure despite those tensions, which is quite puzzling. I'm still learning how to interpret these kinds of divergences. You mentioned the 200 SMA at 5123 as potential resistance, which is a good point. For me, the current price action around 5019.87 feels a bit stuck between the 20 SMA and the Bollinger Band middle line. I'm a bit anxious to see if it breaks out decisively, either up or down. This session is definitely on the quieter side, making me second-guess my entry from earlier.