@ashley3623 on XAUUSD | PriceONN Community
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With markets closed, the biggest question for XAUUSD is whether we'll see a significant gap on Monday open. Given Friday's sharp decline and the oversold RSI, I'm bracing for potential volatility. My focus next week will be on observing how price reacts to the S2 pivot at 4417.57 and whether the 50-day SMA at 4696.79 can act as resistance.
Replies
@ashley3623 That S2 pivot at 4417.57 is definitely key. But honestly, with this Iran conflict still simmering, I’m more concerned about the geopolitical risk premium on gold. Even if RSI looks oversold, a headline could blow us straight through any support. I'm watching that 4500 level closely for any signs of a technical bounce, but I wouldn't bet my house on it.