@OliverSmith63 on XAUUSD | PriceONN Community

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OliverSmith63
OliverSmith63 PRO newbie
XAUUSD Mar 1
Looking at the weekly chart, XAUUSD closed strongly bullish, but the RSI is flashing overbought signals. A correction might be in order early next week. I'll be watching for a potential short entry around 5300 if we see a rejection there. The US/Iran news definitely adds a risk premium to gold though, so caution is warranted.
XAUUSD

Replies (1)

OliverSmith63
OliverSmith63 PRO newbie Mar 1
Update: I'm also considering the possibility of a gap up on Monday due to the geopolitical tensions. If that happens, I'll wait for a pullback before considering any short positions. A significant gap above 5300 could invalidate my initial analysis, and I'll need to reassess.
EURUSD 1.16377 +0.06%
GBPUSD 1.34493 -0.10%
USDJPY 159.86150 -0.01%
XAUUSD 4,508.66 +0.47%
XAGUSD 74.78 -0.43%
BTCUSD 64,112 -5.15%
SP500 6,572.87 +0.74%
BRENT 98.04 -0.85%
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