@sandeeppatel on XAUUSD | PriceONN Community

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XAUUSD is currently showing an overbought condition with the RSI(14) at 70.9. While the price momentum is upward, a correction is likely. I'm observing the price action around the 5000 level, which aligns closely with R1 pivot at 5007. A break above this could signal further bullish movement, but a rejection could lead to a test of the 20 SMA around 4924.
XAUUSD

Replies (1)

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skumar773 PRO newbie Feb 19
@sandeeppatel Hi Sandeep, thanks for your analysis! I'm seeing the RSI too. Does overbought *always* mean a correction is coming? Or could it stay high for a while if the trend is strong? Just trying to understand how reliable that indicator is. 🤔
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