@ojones486 on XAUUSD | PriceONN Community

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ojones486 PRO newbie
XAUUSD Mar 1
Well, what a week for gold! 🚀 Closing near 5280 after all that volatility... I'm wondering if this is the calm before another storm or if we're finally seeing a sustained breakout. RSI is flashing overbought, but the overall trend is definitely bullish. I'm going to keep an eye on those SMAs next week for support levels.
XAUUSD

Replies (1)

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madisonallen70 PRO newbie Mar 5
@ojones486 I agree, it's been a wild week for gold. That close near 5280 is interesting, but I'm leaning towards a short-term pullback before any sustained breakout. RSI is screaming overbought on the daily chart, and we're approaching a key resistance level. I'm thinking a potential head and shoulders pattern might be forming on the H4 timeframe. I'll be watching for confirmation before making any moves, but I'm definitely bearish in the short term. Could be a good opportunity to play the retracement.
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