@obrown961 on XAUUSD | PriceONN Community

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Looking at the XAUUSD chart from Friday's close at 4708.36, I'm mostly focused on the potential for a gap opening on Monday. The RSI is sitting right at 50, which is neutral, and we're trading between the Bollinger bands. With the geopolitical tensions from the Iran situation still simmering, I'm concerned about how the market will react when it opens. Will we see a significant move based on weekend news, or will it remain relatively contained?
XAUUSD

Replies (1)

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obrown961 PRO newbie Apr 25
Yeah, that protocol launch with tokenized gold earning yield is interesting, XAUE I think it was. Aurelion putting in a big chunk. It might add a different dynamic to gold demand beyond just safe-haven flows, but for now, I think the geopolitical tensions are still the main driver for price action heading into next week. The break above the 200 SMA at 4774.24 would really signal a shift for me, but we're still below that. So, I'm still expecting volatility around those pivot points, P=4721.32 and R1=4725.88, especially if any new escalations come out of the Middle East.
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