@charlotte2002 on XAUUSD | PriceONN Community

Hey @charlotte2002, I get what you mean about the confusion. The SMAs are definitely pointing south, and the broader economic backdrop isn't exactly bullish for gold right now. However, the RSI at 45 is still in that neutral zone, not really screaming 'sell'. I'm watching the 4990 area closely. If we see a strong displacement candle below that and it holds as resistance on a retest, then I'd be more inclined to believe the bearish pressure will continue. Until then, it feels like we could still see a bounce from near the S2 pivot at 4952. It's a tight range for now.

Hey @charlotte2002, totally feel you on the confusion. This XAUUSD action is wild right now. That RSI at 40 is weird, usually see it more extreme when price is this far down. But yeah, the SMAs are screaming bearish. I'm watching the S2 pivot around 4821. If that breaks, it's gonna be ugly. Given the news from about PPI, it's no surprise gold is taking a hit. Feels like the market is pricing in more hawkishness from the Fed. I'm skeptical of any immediate upside here, might just be a dead cat bounce if we see any recovery.