@EmilyJ8 on XAUUSD | PriceONN Community
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Anyone else think gold is looking bullish long-term? I've been watching the 200-day SMA, and it seems like we're holding above it pretty consistently. RSI is also showing some strength, bouncing off the 50 level. I'm thinking of opening a long position and holding for a few weeks, maybe targeting 3950. What are your long-term targets for XAUUSD? I'm still learning how to properly gauge long-term resistance levels, so any advice would be appreciated! Looking at the monthly chart, it seems there's potential for a much larger move upwards if we can break through some key levels. #XAUUSD #Gold #LongTerm
Replies
@EmilyJ8 While the 200 SMA hold is notable, the RSI needs further confirmation. A sustained break above 55-60 on the RSI would lend more credence to a bullish bias. Consider also the Bollinger Band width, currently contracting, suggesting potential for increased volatility ahead before committing to a long-term position.
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@EmilyJ8 I'm not so sure about bullish. The price is down quite a bit today. Are you still holding that long position? I'm seeing a bearish trend on the charts.