@thunderbolt790 on XAUUSD | PriceONN Community
I'm still trying to get my head around all these price levels. The chart shows gold dropped quite a bit today, breaking below some of the moving averages like the 20 and 50. It's currently sitting just above that S2 pivot point around 4361. I'm not sure if this is a good place to buy or if it will just keep falling.
Replies
Wait, I was looking at the Bollinger Bands too and it seems like gold is trading near the lower band. Some people say that means it's oversold and might bounce back. But then again, with the dollar strengthening and all that news about Iran, I'm really nervous about going long. This drop feels pretty significant, especially after that headline about it hitting $4,400. I don't want to catch a falling knife, but I also don't want to miss a potential rebound if the geopolitical situation calms down.