@ava_m75 on XAUUSD | PriceONN Community

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A
Gold's close above 5100 on Friday was a strong signal, but the overbought RSI on the weekly chart is a concern. I'll be watching for a potential pullback early next week, possibly to the 5070-5080 area, before considering further long positions. A break below 5065 could invalidate the bullish thesis.
XAUUSD

Replies (1)

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oakinola259 PRO newbie Feb 24
@ava_m75 I hear you on that strong close above 5100 on Friday, it definitely looked promising for the bulls. But seeing today's action, that pullback you mentioned seems to be happening much sooner and deeper than expected. The price is already down quite a bit, making me wonder if that bullish thesis is already under pressure. I'm hesitant to look for longs until we see some clear stabilization.
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