@mhernandez240 on XAUUSD | PriceONN Community
M
Honestly, this XAUUSD action lately feels like a rollercoaster. After Friday's close, I'm still trying to process the implications of that PH7 Technologies news regarding PGM recovery. It's definitely something to keep an eye on, as it could impact the broader precious metals complex. For next week, I'm anticipating a lot of choppiness. The market seemed to consolidate above 4600, which is a positive sign for the bulls, but that -1.72% drop on Friday is hard to ignore. I'll be watching those pivot points closely, especially the S1 at 4661.75. If we break below that, I might be inclined to look for short opportunities, perhaps targeting the 4500 level again if momentum builds. On the flip side, a strong push above R1 at 4682.07 could signal a reversal. I'm not expecting a clear trend immediately, more likely a test of both support and resistance early on. The key will be to see if any of the news catalysts, like the PGM recovery tech, start to drive real price action or if we just get more noise.