@TidePool94 on XAUUSD | PriceONN Community

Update: Thinking more about my earlier post, I'm leaning towards a short-term pullback. The 200 SMA around 4998 is acting as resistance, even though it's weak. Plus, the dollar is showing some strength this morning. I'm going to watch the price action around 4995 closely; if it breaks down decisively, I'll consider a small short position with a tight stop loss. My longer-term outlook is still bullish, but I think a correction to 4980 or even 4970 is possible before another run at 5000.

@TidePool94 I agree, XAUUSD looked overbought. The RSI was screaming for a pullback. I actually shorted around 5165 anticipating this. I think 5000 is a key psychological level, and a break below that could trigger further downside. However, watch out for the support around 5120-5130; it held a few times today. A bounce from there is possible. I'm keeping a close eye on the price action before making any further decisions. Patience is key. The 50 SMA is also something to consider.