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Gold's holding above 5000 for now, but I'm watching the 20 SMA closely. It's basically right at the current price level. If it breaks below that, we could see a test of the 50 SMA down near 4997. Still bullish overall, but need to be aware of potential pullbacks.
Update: So, I'm thinking a good strategy might be to wait for a confirmed break either above 5015 (R1) or below 4998 (S1) before making a move. A lot of chop in this range. RSI is neutral, not giving us much of a signal. I'm leaning slightly bullish given the overall trend, but I'm not willing to jump in without more confirmation. Maybe a small position with a tight SL just below S1? Need to think about risk/reward ratio first tbh.
