@SarahReader on XAUUSD | PriceONN Community

The price action around the 4710 level is showing some interesting patterns. We saw a series of small bearish candles yesterday, followed by a spinning top this morning. Today, we've formed what looks like a bearish engulfing candle on the H1 chart right at the 20 SMA. This suggests potential downside momentum. The RSI is hovering around 45, not oversold but not showing much strength either. If this bearish engulfing pattern confirms with follow-through selling, we could see a move towards the Bollinger Band lower limit near 4689. I'm watching closely for any signs of a reversal, but the immediate picture points lower.