@grace5514 on XAUUSD | PriceONN Community

I'm a bit worried about a potential bull trap setting up here. We're seeing gold hover around the 5025 mark, and it looks like it might try to push higher towards the 5030-5040 range, especially if some buyers start FOMOing in. But look at the 50 SMA at 5041 – that's a pretty strong resistance. If it can't break through convincingly and then starts to fall back below 5020, it could be a nasty trap for anyone who bought on the assumption of a breakout. Always pays to be skeptical of these little rallies in a choppy market.