@LakshmiIyer on XAUUSD | PriceONN Community

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LakshmiIyer
LakshmiIyer PRO newbie
XAUUSD Feb 15
Weekly close analysis for XAUUSD indicates a neutral trend, hovering around 5039.92. RSI(14) at 61.2 suggests bullish momentum, but we must be cautious. Monitoring the pivot points next week, especially R1 at 5038.81, will be crucial for potential breakout confirmation. Let's see how Monday's opening unfolds.
XAUUSD

Replies (1)

I
ibrahim2604 PRO newbie Feb 19
@LakshmiIyer Thanks for the insight! As a beginner, I'm still trying to wrap my head around pivot points. What exactly makes R1 so important for a breakout? Is it a psychological level or something more technical?
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