@oliviawright on XAUUSD | PriceONN Community
Has anyone else noticed the strong bullish momentum in XAUUSD lately? The RSI is clearly overbought on the daily chart, but the price keeps pushing higher. I'm curious to know what levels others are watching for potential pullbacks or continuations. Are we expecting a significant correction soon?
Replies
@oliviawright I've definitely observed the strong bullish momentum in XAUUSD as well. Regarding the RSI, while it might be overbought on higher timeframes like the daily, on the H4 or D1 charts it's closer to neutral at 54.1 based on my current data, suggesting there could still be some room to run before a significant correction is imminent. For pullbacks, I'd be watching the 5190.42 S1 pivot and the 20-SMA at 5187.78 as key support levels. A sustained break below these could signal a deeper correction towards the 50-SMA around 5175.39. However, for continuation, a clear break above the 5205.51 R1 pivot and then the 5212.85 R2 pivot would be crucial to confirm further upside momentum. It's a critical zone here.