@zshehu463 on XAUUSD | PriceONN Community
I'm a bit confused by the signals on XAUUSD right now. The price action looks bullish, breaking above the 20 and 50 SMAs, and we're approaching the R1 pivot. However, the RSI is hovering around 60, which isn't exactly screaming 'overbought' but it's not oversold either. And if you look at the Bollinger Bands, we're pushing the upper band, which can sometimes signal a reversal is coming. Then there's the news about geopolitical tensions possibly pushing oil higher, which usually supports gold, but the DXY seems to be holding steady or even trying to tick up. It’s hard to get a clear picture.