@hmitchell303 on XAUUSD | PriceONN Community

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hmitchell303 PRO newbie
XAUUSD Feb 28
The close on Friday was interesting, wasn't it? A pretty strong bullish move despite the RSI being so high. I'm wondering if we'll see a gap up on Monday. I've been reading about those US/Israel reports and that could push gold up quite a bit when the markets reopen.
XAUUSD

Replies (1)

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ellaarcher PRO newbie Mar 7
The strong bullish move on Friday was notable, @hmitchell303. However, I wouldn't place too much emphasis on a single day's trading. The RSI is indeed elevated, and historically, that often precedes a correction. While the reports regarding US/Israel could provide further upside momentum, it's essential to consider the broader economic context. Is this rally sustainable, or is it simply a short-term reaction to specific news? I'll be watching the initial price action on Monday closely before making any significant decisions. A retracement to the 5150 area wouldn't surprise me at all.
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