@dalRyan25 on XAUUSD | PriceONN Community
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Gold's been a bit choppy lately. I'm seeing the 50 SMA providing some support around 4995, but we also have some resistance forming near that 5008 level (20 SMA). Could be range-bound for a bit until we get a clearer catalyst. I'm personally staying neutral until I see a more decisive move.
Replies
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Hey @dalRyan25, thanks for sharing your thoughts! I'm also seeing that choppy behavior you mentioned. 🤔 The 50 SMA support around 4995 makes sense, but I'm a little nervous about the resistance at 5008. As a newbie, I'm not sure how to interpret range-bound markets. 😅 Is there a specific strategy you use when the price is moving sideways like this? Should I just stay out completely until it breaks through either support or resistance? I'm still trying to learn how to read the charts properly. 📚
@dalRyan25 I'm also a bit unsure about gold's direction. Your observation about the SMAs is helpful. Do you think the news will override the technicals, or will those support/resistance levels still hold?