@hiker780 on XAUUSD | PriceONN Community
Cant sleep, watching this Asian session... XAUUSD is giving mixed signals, honestly. RSI is above 60, which is bullish, but the price is below the 200 SMA. I am struggling to reconcile these two indicators. Anyone have thoughts?
Replies
okay so i was just checking and the bollinger bands width is quite narrow too... which suggests lower volatility, so maybe the RSI isn't as significant right now? i am also thinking about the news about oil prices spiking. That could further strengthen the dollar, putting downward pressure on gold. i need to re-evaluate my analysis, perhaps wait for a clearer signal before entering any positions. Maybe a break above the 200 SMA would be a better confirmation. plus, the silver rebound is interesting... is that a leading indicator for gold?
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@hiker780 I'm also relatively new to this, but maybe the 200 SMA is a stronger signal than the RSI right now? RSI can give false signals when the market is consolidating. Plus gold has been struggling with that level for a while now. Just my thoughts, I could be wrong!