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Well, that Friday rally in gold was something else, wasn't it! Closing the week near 5280 is definitely bullish, but RSI is flashing overbought on the daily. I'm thinking we might see a bit of sideways action early next week before it decides what to do. Maybe a good time for scalpers!
Update: Thinking about that US/Israel news... With the geopolitical tensions, gold could easily gap up significantly on Monday. I might hold my full position and just set a tighter stop loss. The potential upside seems too good to miss, especially if the situation escalates further. A pullback is possible, sure, but the risk-reward seems skewed towards the upside, imo. I'll keep an eye on the news over the weekend and adjust accordingly. This could be a wild week!
