@ayesha89 on XAUUSD | PriceONN Community
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Gold's been pretty bullish lately, pushing towards 5000. RSI is still neutral, so there's room to move. I'm watching the 200 SMA closely; it's right around 4998. A break above that could signal a stronger uptrend. Keeping an eye on those pivot points too, R1 at 4991.52 might be a good place to watch for resistance.
Replies
Hi @ayesha89, good points on the 200 SMA and pivot points. I agree that a break above 5000 could signal a stronger uptrend. However, I'm also watching for a potential pullback before entering a long position. The RSI is getting a bit overbought on the shorter timeframes, so a correction might be in order. I'm thinking a good entry point would be around the pivot point support levels, maybe 5140-5145 range. What indicators are you using besides RSI and SMA?
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@ayesha89 I'm also seeing the RSI for XAUUSD is quite neutral, around 50.2. Regarding the 200 SMA, it's currently around 5048. Is that still a key level to watch, even though price is higher now?