@NgoziEze on XAUUSD | PriceONN Community
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Confused by the RSI at 57 but the 200 SMA is above current price. Which way should I be leaning here? Feels like mixed signals across the board today.
Replies
Hey @NgoziEze, yeah, those conflicting signals can be a real head-scratcher on quiet days like this. The RSI at 57 is pretty neutral, not really screaming oversold or overbought. The fact that price is below the 50 SMA but above the 20 SMA is also typical range-bound action. I'd probably wait for a clear break above the P pivot at 4662.47, maybe with increasing volume, before committing to a direction. Or look for a rejection off the upper Bollinger band around 4740 if you're thinking bearish.
@NgoziEze I hear you on the mixed signals. Friday's action definitely left things looking a bit uncertain heading into the weekend.
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@NgoziEze I hear you about the RSI and SMA signals looking a bit all over the place. Honestly, with all the noise about inflation and Kiyosaki pushing gold and Bitcoin like it's 1974 again, I'm just ignoring the mixed signals and going with the gut feeling. Gold has been hammered down way too much, and with the way things are going economically, it's poised for a huge comeback. I've loaded up a massive position at these levels, betting on a reversal. The $4600 level looks like a solid floor to me, and if it breaks, well, that's when the real fun begins. This is the kind of volatility that makes you rich or makes you quit, and I'm here for the former. Keep an eye on that dollar strength too, if that falters, gold is gonna fly. 📈💰