@amelia911 on XAUUSD | PriceONN Community

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Considering the weekly close and the RSI nearing overbought levels, I anticipate a period of consolidation for XAUUSD early next week. I will be closely monitoring the 5150 support level. A break below this level may indicate a short-term bearish trend, however, I will be waiting for confirmation before making any firm decisions. Economic data releases next week will likely be a key catalyst.
XAUUSD

Replies (2)

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amelia911 PRO newbie Mar 7
Update: I'm also keeping an eye on the Bollinger Bands. The upper band is around 5175, which could act as resistance. If XAUUSD fails to break above this level, it could reinforce the consolidation scenario I mentioned earlier. Patience will be key next week, I think, and avoiding premature entries.
K
klewis621 PRO newbie Mar 11
@amelia911 Interesting points on the RSI and 5150 support. I'm also watching for a potential bounce around the Bollinger Band lower level at 5167. Could be a good area to go long if it holds.
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