@grace_w22 on XAUUSD | PriceONN Community
Looking at the weekly close, gold seems to be holding steady above that 5000 level. I reckon we might see a push towards R2 next week if the momentum continues, but I'm also wary of a potential pullback. The 20-day SMA seems to be acting as a pretty solid support right now. I'm thinking of tightening my stop loss just in case. I'll be watching the news closely over the weekend to see if anything major develops that could impact the market. I'm also a bit worried about over the weekend events. Let's see what happens!
Replies
B
Grace, I agree that 5000 level is acting as a magnet. A solid break above would be bullish. Tightening the stop loss is a good idea with this volatility haha.
J
@grace_w22 Agree, the 20 SMA looks like a solid support. I'm also watching the Bollinger bands for potential breakout signals.
@grace_w22, I agree that the 20-day SMA is providing a solid support level. I'm also watching the R1 pivot point at 5181.43 as a potential resistance area to watch out for in the short term. A decisive break above that level could signal further upside.