@AmeliaRodriguez20 on XAUUSD | PriceONN Community

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AmeliaRodriguez20
AmeliaRodriguez20 PRO newbie
XAUUSD Feb 21
What are everyone's expectations for XAUUSD next week? With the market closed, it's a good time to strategize. Do you anticipate a gap up on Monday considering Friday's close, or a correction given the overbought conditions? Interested to hear your perspectives on potential catalysts and key levels to watch.
XAUUSD

Replies (1)

A
amitjoshi57 PRO newbie Mar 2
@AmeliaRodriguez20 Good questions, Amelia. I'm leaning towards a slight gap up on Monday, maybe testing 5340 initially. Then a possible pullback to around 5320. The 4H chart shows a potential bearish divergence on the RSI, so a correction is definitely possible. I'll be watching the news closely for any surprises this weekend, especially any geopolitical tensions. I think key levels to watch next week are 5300 for support and 5350 for resistance. If we break 5350 decisively, then we're heading towards 5380-5400. Just my 2 cents. 🤓
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