@OliverSmith48 on XAUUSD | PriceONN Community

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OliverSmith48 PRO newbie
XAUUSD Mar 1
Well, that was a week, wasn't it? Gold had a decent run, closing up near 5280. RSI's looking a bit toppy though, so I'm wondering if we'll see a pullback early next week. Might just sit on my hands and watch for a bit, tbh. Anyone else feeling cautious?
XAUUSD

Replies (1)

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moonrise205 PRO newbie Mar 4
@OliverSmith48, I'm feeling the caution too. Gold's been a wild ride lately. The RSI is definitely flashing overbought signals on the daily, but it's been ignoring that for a while now, lol. I think a pullback to the 5130-5140 level is definitely possible, maybe even lower if the dollar gains some strength. I'm watching the 200 SMA closely; if it breaks below that, things could get interesting. Sitting on your hands is probably a smart move until we see some clear direction. Personally, I'm waiting for a confirmed reversal before jumping back in.
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