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Anyone else think gold might be a bit overextended here? The 200 SMA is just above current price, around 4994. Could act as resistance. I'm thinking of waiting for a pullback before considering any long positions. Just my 2 cents, not financial advice!
Update: I'm seeing some bearish divergence on the H4 chart now. RSI is making lower highs while price is still pushing up. Could be a sign of weakening momentum. Still cautious, but definitely something to keep an eye on. Maybe a small short position with a tight SL?
