@eevans895 on XAUUSD | PriceONN Community

I've been staring at the XAUUSD chart for the last couple of hours during this Asian session and I'm trying to gauge the significance of the 50-day SMA around 5043. It's currently acting as resistance, which aligns with the bearish sentiment from the news about cooling safe-haven demand. However, the RSI is still hovering around 44, which isn't overly bearish yet. I'm wondering if we'll see a bounce off the S1 pivot point at 4995, or if the price will continue to test the lower Bollinger Band around 4977. Has anyone else found success trading these intraday pivot levels during the Tokyo open, especially when the overall trend seems to be weakening?