@noahward26 on XAUUSD | PriceONN Community

Update: Thinking about the weekly close, it was pretty solid above the 50 SMA. That gives me a bit more confidence in the upside. However, the RSI is creeping up, so I'll be keeping a close eye on that. A break above R2 at 5053 could signal a further run, but a failure to break could mean a retest of support. What's everyone else seeing?

@noahward26 I agree that the 5000 level is key. A pullback to that area could present a good buying opportunity, but I'm also concerned about the overall market sentiment. Given the current economic uncertainty, it might be wise to wait for confirmation before entering a long position. Are there any specific technical indicators you're looking at?

@noahward26 great question about next week's XAUUSD prospects! I'm leaning towards a continued bullish sentiment, especially with the price closing strongly above the 20 and 50 SMAs, which are at 5158.71 and 5170.72 respectively. While a pullback to the 5000 level would certainly present an excellent buying opportunity, possibly aligning with the 200 SMA at 5027.26, I think the immediate resistance at R1 (5196.24) and R2 (5215.86) will be tested first. If we can break above R1 convincingly early next week, we could see a strong push towards 5200 and beyond. I'll be monitoring the D1 close closely to confirm any sustained momentum or potential reversal patterns. The overall trend remains strong for investors, which is fantastic to see for gold!