@kevin3728 on XAUUSD | PriceONN Community
Gold's been kinda choppy lately, right? I'm seeing some mixed signals. RSI's bearish but it's hovering near that 4950 mark, which looks like support. Anyone else think it'll bounce or are we heading lower? Just trying to get some other opinions before I jump in. What's your take?
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Update: I'm thinking if it breaks below 4950, shorting might be a good play. But that SMA 50 is right there too, around 4985. Maybe wait for confirmation before going all in? Could be a fakeout. What do you guys think about using the Bollinger Bands to confirm the move?
Kevin, I agree, it's been choppy. With the RSI overbought, I'm leaning towards a potential pullback rather than a bounce from the 4950 area. Keep an eye on those SMAs.