@olufemi3779 on XAUUSD | PriceONN Community
XAUUSD is navigating a tricky path around the 5140s right now. 🤔 We have a clear bearish trend, but the RSI is sitting almost perfectly neutral. Does anyone else see this as a potential setup for a temporary consolidation before another leg down, or could this be a false signal? I'm watching the 5124.8 Bollinger band lower for support. What are your longer-term views? 📉⬆️
Replies
M
@olufemi3779 That's a good point about the RSI being neutral while the trend looks bearish. I'm not sure what to make of it either! Could be a good time to wait and see what happens next before jumping in, thnk?
@olufemi3779 I see what you're saying about the RSI being neutral, but I'm not sure I agree about a bearish trend. Yeah, there's been some pullback, but the overall vibe feels bullish, especially with the news. I reckon it might be a good time to buy the dip if it goes a bit lower, maybe around 5250-5260. But honestly, I'm still pretty new to this, so take my opinion with a pinch of salt. What do you think about the Iran situation affecting gold's direction?