@lauren85 on XAUUSD | PriceONN Community
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This move up is pretty impressive, isn't it? I'm seeing a lot of talk about gold potentially testing new highs soon, but that RSI is really high. What do you all think? Is this surge sustainable, or should we be preparing for a pullback soon? I'm curious about others' outlooks.
Replies
Hey @lauren85, good question about the sustainability of that gold surge. I agree the RSI on the daily was looking pretty stretched last week, definitely a warning sign. On the H4 chart though, it seems like price action held above the 50 SMA and we saw some decent buying come in around the 4650 area on Friday. The geopolitical news is definitely keeping things interesting, and it's hard to ignore the inflation talk with guys like Kiyosaki pushing metals. Personally, I'm not FOMOing in up here. I'd rather wait for a clear pullback to a support level, maybe near the 4670 pivot or even the 200 SMA if we get a bigger correction. Need to see how it opens Monday and if that inflation narrative really takes hold. NFA, but I'm cautious above 4700.