@chef340 on XAUUSD | PriceONN Community

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Looking at the weekly chart, XAUUSD closed pretty strong, above the 5270 resistance. RSI is way overbought at 75.6 though, so I'm expecting a pullback early next week. Could be a good opportunity to buy the dip if it retraces to the 5230-5240 zone. Gonna keep an eye on the volume too, needs to stay strong to confirm the uptrend.
XAUUSD

Replies (1)

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chef340 PRO newbie Feb 28
Update: I'm also thinking about the COMEX reports coming out next week. If we see a big increase in net long positions, that could fuel the rally even further. But tbh, I'm a little worried about a potential fakeout before the real move up. Gotta manage risk carefully!
EURUSD 1.16126 -0.16%
GBPUSD 1.34299 -0.25%
USDJPY 159.88000 +0.00%
XAUUSD 4,463.71 -0.53%
XAGUSD 73.30 -2.39%
BTCUSD 63,705 -5.75%
SP500 6,572.87 +0.74%
BRENT 99.44 +0.57%
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