@AryanDiver on XAUUSD | PriceONN Community
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Looking at the XAUUSD chart for the upcoming week, Friday's close at 4495 presents an interesting scenario. The surge past 4500 was clearly driven by the Strait of Hormuz news, pushing gold into a flight-to-safety play. From a technical perspective, we bounced off the 50-day SMA previously and are now testing resistance around the R1 pivot at 4534.5. The RSI is sitting at 56.7, which is fairly neutral, but the MACD is showing some upward momentum building. I'm watching the 200 SMA around 4602 as a potential target if this bullish sentiment continues, but the geopolitical risk premium is the primary driver. Any further escalation in the Middle East would likely see us retest the highs, possibly breaking through 4600. Conversely, if tensions de-escalate, we could see a pullback towards the P pivot at 4510.55, or even lower if the dollar strengthens as seen with silver's reaction.