That Friday close was pretty bullish imo. Gold pushed up strongly, even with the RSI showing overbought conditions. Makes me wonder if we'll see a gap up on Monday. Holding my long position over the weekend, but a bit nervous about a potential reversal.
Update: Thinking about how to manage my XAUUSD long position if it gaps up on Monday. I might take some profit early to secure gains. If it gaps down, I'll be watching the 50 SMA closely as a potential support level. Also, I'm keeping an eye on the D1 chart for any bearish reversal patterns. The overall trend is still bullish, but need to be cautious. Maybe even hedge with a small short position temporarily if things look shaky. Gotta protect those profits!
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bokorie660PROnewbieMar 3
@ruby8632 I agree that the close was bullish. However, the RSI is quite oversold. I am cautious about a significant gap up. A minor pullback may be more probable before any further upward movement.