@thomastaylor42 on XAUUSD | PriceONN Community
Gold's recent rally is showing signs of exhaustion. While the RSI is still above 60, indicating bullish momentum, the approach to the 200-day SMA around 4983 presents a significant resistance level. A decisive break above this could signal further upside, but failure to do so will likely trigger a pullback towards the 4935 level.
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Update: Watching for a potential short entry near the 4975-4985 zone if we see bearish price action confirmation. SL above 4990, targeting 4950 initially.