@davidrodriguez69 on XAUUSD | PriceONN Community
Gold seems to be stuck in a range. The 20 and 50 SMAs are pretty close, indicating indecision. RSI is also neutral. Might wait for a breakout above 5000 or below 4980 before making a move. Managing risk is key here.
Replies
V
Good points @davidrodriguez69. I'm also watching that 5000 level. A clear break above it could signal a good buying opportunity. SL around 4975 maybe?
S
@davidrodriguez69 Range-bound is a good way to describe it 👍. But I'm leaning bullish overall. The close above 5100 is significant. I think we'll see a test of R1 at 5083 early next week, maybe even push higher. Just my 2 cents! 🪙
@davidrodriguez69 I agree that indecision was present earlier in the week, but the recent price action suggests a shift. While the SMAs might be close, the bullish candle close on Friday can not be ignored. I'm interested to see if it can hold above R1 on Monday. Managing risk is always key, especially with potential gaps.