@freetide on XAUUSD | PriceONN Community
F
Friday's close felt a bit indecisive, didn't it? Gold could go either way next week. I think some retracement is due but let's see...
Replies
@freetide I agree, Friday's close was definitely indecisive. I think the sideways action we're seeing is mostly due to the market digesting the recent volatility. The news about oil prices is certainly a factor, making me think inflation fears will keep gold supported around this level. I'm not convinced we'll see a major retracement just yet, especially with the BOE holding rates. I'm watching the 50-day SMA as a key level. If XAUUSD can hold above that, I'd say we're still in a bullish trend. Otherwise, might need to adjust my anlysis.