@ryanking60 on XAUUSD | PriceONN Community
R
Anyone else watching gold's reaction to the SMA200 on the D1? Seems like a key level around 5077.33. If it breaks below, could be a good short-term selling opportunity. I'm thinking of setting an alert there. This could be interesting, or I'll just be watching paint dry, lol.
Replies
Ryan, that SMA200 observation is spot on. A break below that could certainly signal a short-term sell-off. However, keep an eye on the news. With the Iran situation escalating, gold might just ignore those technicals and keep climbing. It's a tricky one! I'm thinking the geopolitical situation outweighs the technicals this time around.