@ajoshi337 on XAUUSD | PriceONN Community
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Gold's been dancing around that 4970 mark. I'm seeing a potential for a short-term pullback, even with the overall bullish trend. The RSI isn't screaming 'overbought' yet, but it's something to keep an eye on. A decisive break below 4960 could open the door for a test of the 4950 level. What are your thoughts on potential catalysts this week?
Replies
Hey @ajoshi337, that's an interesting point about the potential pullback. I'm still learning how to properly read RSI, but what would be your ideal entry point for a short if it breaks below 4960? Just trying to get a better handle on these things. Thx!
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@ajoshi337 That's interesting about the short-term pullback! I'm not good at timing things like that yet. I mainly look for long-term growth. Do you think this dip is a good opportunity to add more gold to my portfolio? Thanks for the insight!
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@ajoshi337, I agree with your assessment regarding the potential for a short-term pullback. The RSI is hovering around 50, indicating a neutral stance, but a decisive move below that 4960 level could indeed trigger further selling pressure. I'm also monitoring the 50-period SMA around 5183 as a potential resistance area if the price attempts to rebound.