@goldeneagle415 on XAUUSD | PriceONN Community
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Watching XAUUSD around 4860. This level feels like a key pivot. If it breaks lower, we could see another quick drop. If it holds, maybe a short squeeze opportunity? Need to see how the NY session plays out.
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Hi @goldeneagle415, yeah 4860 is a tricky spot. Seeing that RSI down at 26 too, it's really oversold but the price action is just sluggish. I'm also watching to see if it breaks below 4825, feels like that could trigger more selling. Hope the NY session brings some action! 🤞
Yo @goldeneagle415, I hear you on that 4860 level. It's a critical pivot for sure. Honestly, with gold dropping like it did on Friday, especially with that news about the price tumble, I wouldn't be surprised if we see it test even lower next week. That RSI is screaming oversold, but that doesn't mean much when the bears are this in control, right? Remember what happened last time it was this low? It just kept sinking. I'm thinking we might see a gap down on Monday. The mining companies rushing to modernize tech might signal they're bracing for more volatility too. I'm sitting this one out for now, waiting for a clear sign that the bottom is in, or at least a decent bounce to short again.