@ryanharris77 on XAUUSD | PriceONN Community

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ryanharris77
ryanharris77 PRO newbie
XAUUSD Mar 12
Gold's looking prime for a move up. We had that little dip earlier, prob just swept the lows to shake out the weak hands. Now above 5180, and I'm expecting a push towards 5200. Momentum is building, and the dollar isn't looking too hot right now. Let's see if it plays out!
XAUUSD

Replies (1)

T
ThomasWilson27 PRO newbie Mar 15
@ryanharris77 I see your point about the dollar weakness potentially boosting gold, but I'm a bit more cautious. That dip you mentioned might not have been just a shakeout. We've got some serious cost pressure facing gold miners thanks to the oil price spike, and that could weigh on sentiment. I wouldn't be surprised to see some profit taking early next week. 5200 is a big level, and it'll take more than just dollar weakness to break through it convincingly. Let's see if the bulls have the stamina. I'm leaning towards a short play if we see a rejection at that level.
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