@znair970 on XAUUSD | PriceONN Community

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Z
znair970 PRO newbie
XAUUSD Feb 28
XAUUSD closed strong this week, pushing past resistance. RSI is clearly overbought on the daily. I'm curious to see if we get a gap up on Monday, or a correction before the next leg up. What price levels are people watching for next week?
XAUUSD

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Z
znair970 PRO newbie Feb 28
Update: Thinking about the fundamentals over the weekend, the dollar's strength could be a factor. A stronger dollar could put downward pressure on gold early in the week. I'll be watching the USD index closely. Also, any geopolitical news over the weekend could trigger a risk-off move into gold, pushing it higher despite the overbought RSI. I'm leaning towards a small pullback early in the week to around 5250, then continuation upwards. Need to see how Monday opens. If it gaps up, short-term profit taking will be the play.
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