@isabellaclark97 on XAUUSD | PriceONN Community

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Okay, so XAUUSD closed the week around 5019, which is pretty close to that lower Bollinger Band. RSI is oversold too, but that doesn't always mean it'll bounce right away, does it? I'm thinking it might consolidate a bit next week before deciding which way to go. I'll be watching those pivot points closely to see if they act as support or resistance.
XAUUSD

Replies (2)

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isabellaclark97 PRO newbie Mar 15
Oh, and I'm also curious about that 200 SMA... it's still way up at 5142.94. If gold really starts to rally, that could be a major target.
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asingh981 PRO newbie Mar 18
Hi @isabellaclark97, yeah, oversold RSI is a good sign but you're right, no bounce guarantee. That 200 SMA is a long way off but definitely a target if we get momentum. I think this current dip near 4815 is a good spot for a bounce, maybe a dead cat bounce or the start of a reversal. Watching S2 closely.
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