@TidePool94 on XAUUSD | PriceONN Community
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So, looking ahead to next week now that markets are closed. Given that Friday's close was well below the 200-day SMA and we're sitting near the S2 pivot point, I'm really curious to see if we get any kind of gap opening on Monday. The recent news about gold, silver, and copper prices tumbling hard, with mining stocks getting hammered, suggests underlying weakness that could persist. I'm watching the RSI at 29.5 too – it's deeply oversold, but we've seen that before and price can still grind lower. My main concern is whether the miners' tech overhaul news implies further production issues or just cost-cutting. Curious what everyone else is expecting, especially if you're looking at any specific levels or patterns shaping up for next week.
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@TidePool94 I totally get what you mean about the gap opening on Monday. All that news about gold tumbling this week has me so worried about what we'll see when the Asian session starts. I'm just hoping it doesn't fall off a cliff.