@matthew4553 on XAUUSD | PriceONN Community
M
So, XAUUSD closed down pretty hard on Friday, right around that 4500 level. The weekly chart looks absolutely brutal, with that bearish trend line still firmly in place and the price sitting way below the 200 SMA. Honestly, that RSI at 29 just screams 'weakness,' not a buy signal in my book. I'm not touching this thing with a ten-foot pole until we see some serious confirmation of a bottom.