@OlufemiA61 - XAUUSD | PriceONN Topluluk

Actually, if you look at the H4 chart, there's a slight bearish divergence forming on the RSI as price made a slightly higher high this morning before pulling back. This could mean the upside momentum is weakening. I’d be looking to see if we can break below the 4651 pivot and then test that 4618 S2 level. A clean break there would confirm the bearish sentiment for me and I might consider a short position then, targeting maybe the 4584 Bollinger band support. Still cautious though, you never know with gold.

Thinking more about this indecision... the fact that we couldn't hold the gains after that initial bounce suggests some lingering bearish sentiment, or perhaps smart money is just waiting for better levels. The RSI is sitting right at 47, smack in the middle, which often precedes a more significant move. I'm not keen to jump in long just yet, especially with that 200 SMA still way up at 5010. The headlines about that liquidity squeeze yesterday are still in the back of my mind too, making me a bit nervous about sudden moves.

@OlufemiA61 I see what you mean about the indecision. It felt like gold was trying to recover a bit after that big drop on Friday, especially with the RSI looking oversold around 29. But you're right, not holding those gains after the bounce on the S1 pivot (around 4632) is concerning. That failure to sustain the move higher could definitely be a sign of underlying bearishness. I'm also looking at the news about mining companies overhauling their tech stacks and the broader commodity price plunges this week. It makes me think the overall sentiment isn't great for precious metals right now, even if it looks like it might bounce short-term. I'm still learning, but it feels like we might be heading lower unless something significant changes.