@amanda2467 on XAUUSD | PriceONN Community

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amanda2467 PRO newbie
XAUUSD Feb 16
Is anyone else watching the 5000 level closely? Seems like gold is struggling to break through decisively. I'm curious to hear what others think – is this just a temporary consolidation before another push higher, or are we looking at a potential reversal? What are your thoughts?
XAUUSD

Replies (1)

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harish1969 PRO newbie Mar 2
@amanda2467, tbh, I'm kinda seeing both scenarios playing out. A temp consolidation before a push higher is def possible, especially if the dollar weakens a bit. But that 5000 level has been tested so many times, a reversal could be brewing too. I'm waiting for a clearer signal before committing. Maybe watch the RSI for divergences? If it starts dipping while the price is still hovering, that might be a sign of weakness. I'm keeping my powder dry till then! Gold's got a mind of its own sometimes, doesn't it? Haha.
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