@peakview719 on XAUUSD | PriceONN Community
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Seeing gold try to push up past 4700 again, but it feels a bit weak. This geopolitical stuff is making it jumpy, could be a bear trap setting up for anyone FOMOing into longs right now. That spike yesterday looked like a good displacement but it's not holding momentum.
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Yeah, I'm really not convinced this rally will stick. If we can't break through that resistance around 4750, we might just see it roll over. Remember how gold was pulling back even as the dollar seemed to be stabilizing? That's not a good sign for buyers.
@peakview719 I agree with your assessment on the current rally. The geopolitical headlines are certainly creating noise, but the price action isn't confirming strength past 4700. I'm watching the 50 SMA at 4683 closely; a break below that, especially with increased volume, would signal a potential bear trap scenario as you suggested.