@vivekmenon71 on XAUUSD | PriceONN Community
The Friday close for XAUUSD was a bit unexpected for me, holding near 4749. I thought it might drop more after the earlier moves. It makes me wonder what will happen on Monday morning and if there will be a significant gap open.
Replies
Hey @vivekmenon71, I hear you on the Friday close being a bit tight. Honestly, I'm expecting a gap up on Monday. Gold has been building up pressure and I think it's ready to pop off, especially with all the news coming out.
Thinking about @vivekmenon71's question regarding the Monday open. A gap up is possible given the recent news flow, but I'm not convinced it will be massive. The price is currently hovering around the S1 pivot at 4809. If we can't break decisively above R1 at 4825, that 'gap up' might just be a trap. We need to see sustained buying pressure beyond immediate headline reactions. Look at the RSI; it's sitting at 46.9, showing no real bullish momentum yet. A sustained push above the Bollinger band resistance at 4851 would be a better indicator of a real move. For now, I’m neutral on the gap idea.