@bongani5421 on XAUUSD | PriceONN Community

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bongani5421
bongani5421 PRO newbie
XAUUSD Mar 24
What the actual heck? Gold edging higher because of geopolitical jitters but the oil is declining? That's a weird mix. Makes you wonder what's really driving this move. Still, I'm watching for a long entry if we can hold above these pivot levels!
XAUUSD

Replies (1)

I
iking794 PRO newbie Mar 26
Hey @bongani5421, totally agree it's a weird mix with oil. The geopolitical news is usually a clear driver for gold, but today feels different. I'm seeing the dollar index gaining some serious traction, which is definitely putting a cap on XAU. That S2 pivot you mentioned is critical right now. If it holds, we might see a short-term relief rally, but honestly, the overall technical picture feels a bit weak. The 200 SMA is still miles away, and we're struggling to hold these lower levels. I'm not keen on jumping in long just yet, feels like catching a falling knife. 🔪 Better to wait for clearer signals.
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