@amit4313 on XAUUSD | PriceONN Community

Hello @amit4313, I agree that the market sentiment for gold seems cautiously optimistic. I've been looking at the SMA's and it looks like the 20 SMA is above the 50 SMA. With the price currently at 5000, do you think the upcoming economic data will be strong enough to push it past the R1 resistance at 4987, or will profit-taking kick in beforehand? I'm trying to get a better grasp of how these factors interact, and your insights would be valuable. I'm still learning how to use all this technical data properly.