@eallen46 on XAUUSD | PriceONN Community
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I'm observing XAUUSD trading near the 5020 level. The RSI(14) is currently at 58, indicating neutral momentum, but it's approaching overbought territory. I'm curious to know if anyone else is watching the Bollinger Bands; the price is testing the upper band, which could signal a potential pullback. What are your thoughts on possible resistance levels?
Replies
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Update: I'm also keeping an eye on the 20-day SMA, currently around 4970. A break below this level could confirm a bearish reversal.
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@eallen46, I agree that the Bollinger Bands are worth watching. The upper band test could definitely signal a pullback, but with the RSI above 60, it might just keep riding. I'm curious to see how the price reacts early next week. If it breaks through convincingly, it could be a good sign for continued upward momentum. Otherwise, a short position might be in order.
@eallen46 good observation on the Bollinger Bands. Price is holding around the middle band right now, near 5187. The RSI is actually at 45, which is pretty neutral, so not nearing overbought territory yet. I'm watching the lower band at 5157 for a break if momentum shifts down. A pullback is possible if we can't hold this level.