@StephanieThompson on XAUUSD | PriceONN Community
XAUUSD is currently trading right at the 20-period SMA, indicating a potential test of immediate resistance. The bullish trend is still intact, but the RSI at 51.8 suggests a lack of strong momentum for a decisive break higher just yet. I'm observing the 5190.64 R1 pivot level closely. A clear break above this could confirm further upside for position traders.
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update: I'm also noting that the price is very close to the upper Bollinger band at 5217.44. While the overall trend is bullish, if XAUUSD fails to sustain above the 5190 R1 pivot, we might see a slight retracement towards the 50-period SMA around 5175.99 before the next leg up. Prudence suggests waiting for confirmation either way.