@A_Hall on XAUUSD | PriceONN Community
This reminds me a bit of the situation back in early 2020, right before the pandemic hit. Gold was trading in a similar range, consolidating after a decent run-up. Then, bam! Uncertainty hit, and gold took off like a rocket. Could we be seeing a similar setup now with all the geopolitical tensions?
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güncelleme: To expand on my earlier point, I'm looking at the D1 chart and noticing a potential inverse head and shoulders forming. The neckline is around 5200, which aligns with a previous resistance level. If we see a solid break above that, it could signal a significant move higher. However, the 200 SMA is also hovering around that area, acting as another potential hurdle. I'll be watching the volume closely to confirm any breakout. Also keeping an eye on the RSI, need to see it cool off a bit before a sustained rally. This could be a great buying opportunity if all the stars align.