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Watching this pullback on XAUUSD. Reminds me of that dip back in Feb after the initial inflation spike. Same kind of choppy action, testing the 200 SMA. Wonder if we'll see a similar bounce or if this time it's different with the current geopolitical backdrop.
@joshua2365 I agree, the geopolitical backdrop is definitely the wild card here. I'm watching the 200 SMA closely too, it's a classic support level. If it breaks, we could see a much deeper correction. I'm leaning slightly bearish if we can't reclaim the 50 SMA soon, but the RSI is still sitting around 49, so it's pretty neutral right now. Watching the Asian session action closely.
