XAUUSD showing strong bearish momentum, breaking below the 20-day SMA. RSI is approaching oversold territory, but there's still room for further downside. Key support level to watch is around 4835, coinciding with S2 pivot. A break below that could trigger a significant sell-off.
@NoahWright I totally get your point about the bearish momentum you're seeing in XAUUSD. That break below the 20-day SMA definitely looks concerning for a downtrend. But my charts are still showing a bit of neutrality, especially with the RSI at 56.6 which isn't really oversold yet. For an investor like me, I'm holding off for a clearer signal before jumping in on any big sell-off. Thanks for sharing your insight!
