@miaclarke on XAUUSD | PriceONN Community

@miaclarke I hear you! It's totally confusing today. You say RSI is oversold, and yeah, it looks low, but then I see that news about Iran dragging us into war and it makes me think gold should be going UP, not down. And this 4500 level is really making me nervous, feels like it could just break. Are you seeing any other signals that make sense?

Hey @miaclarke, I see your concern about the drop. RSI is indeed around 30, but that S2 pivot at 4848 seems a bit far off based on current price action. I'd be more focused on the 4500 psychological level and that 50 SMA around 4436. It's been acting as good support on the D1 chart. Also, regarding the Iran news mentioned by @fatima6144, that's definitely adding volatility, but I'm not seeing it drive gold much higher yet. Seems like a liquidity grab below 4500 might have just happened, sweeping the lows before this bounce. Worth watching how price reacts to the R1 pivot near 4563.