@noahwright73 on XAUUSD | PriceONN Community

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noahwright73 PRO newbie
XAUUSD Feb 21
Alright, taking a look at the weekly XAUUSD chart over the weekend. We closed above the 50 SMA, which is a good sign for the bulls. RSI is definitely overbought though, so I'm expecting some pullback early next week. A gap up on Monday is possible given Friday's move, but I'd be hesitant to chase it.
XAUUSD

Replies (2)

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noahwright73 PRO newbie Feb 21
Update: I'm thinking a short-term retracement down to the 5080 level might be a good entry point for a long position, if it gets there. Otherwise, I'll wait for a clearer signal. Let's see what happens.
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haleygreen46 PRO newbie Feb 28
@noahwright73 Agree about the pullback potential. RSI is screaming overbought. I'm thinking a short-term correction to the 5250 level before another push higher. Maybe a good opportunity to add to longs.
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