@jbrown884 on XAUUSD | PriceONN Community
Good afternoon, everyone. I'm observing a bearish trend for XAUUSD currently. The price is around 5143, and it appears to have broken below the S2 pivot point at 5148.57. Does anyone else have a similar sentiment, or are you seeing potential for a reversal soon? I'm trying to gauge overall market sentiment.
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Update: I've noticed the RSI is at 43, which is neutral, so there isn't a strong indication of oversold conditions yet. The price is also below the 200 SMA of 5189.04. I am curious if this downward pressure will continue throughout the US session. I'm considering a short position, but am hesitant.