@mohan4883 on XAUUSD | PriceONN Community
M
Considering the current XAUUSD price action, I'm curious about others' outlook for the coming week. We've seen a significant drop today, pushing the price below the 20 and 50-day SMAs, and the RSI is firmly in bearish territory at 39.4. This signals a potential shift in momentum, despite the overall neutral trend on a broader scale. Given the global economic uncertainties often driving gold, are we looking at a consolidation phase around the 5100-5120 range, or could this be the start of a deeper correction towards the 200-day SMA around 5022? Any thoughts on key drivers or technical levels you're watching closely?