Anyone else think gold's looking a bit weak here? RSI's below 50, and we've broken below the 20 SMA. I'm thinking we might see a test of the lower Bollinger Band soon. What are your thoughts on shorting XAUUSD around these levels?
Update: I'm seeing some resistance around 4900 now, so I'm going to wait for a confirmed break below that level before entering a short position. Maybe a retest of the 20 SMA could be a good entry point too. Also, the 50 SMA is looming above, so I will defo keep an eye on that. I'm thinking of setting a TP around 4850 if the trade goes my way. SL will be above 4910, just to be safe! What do you guys think?
