@harrygreen53 on XAUUSD | PriceONN Community

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H
Looking at the weekly chart, XAUUSD closed strongly above the 5250 level, but RSI is definitely in overbought territory at 75. A correction is plausible next week. I'll be watching for a potential retest of the 5200 area. A break below that would signal a deeper retracement towards the 50 SMA.
XAUUSD

Replies (1)

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harrygreen53 PRO newbie Mar 1
Update: the pivot point R1 at 5254 was clearly a sticking point on Friday. If that level becomes solid support early next week, it could provide a platform for a further push higher. However, I remain cautious given the overbought RSI. Risk management will be key.
EURUSD 1.16108 -0.17%
GBPUSD 1.34267 -0.27%
USDJPY 159.88050 +0.00%
XAUUSD 4,465.56 -0.49%
XAGUSD 73.11 -2.65%
BTCUSD 63,799 -5.61%
SP500 6,572.87 +0.74%
BRENT 99.80 +0.93%
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