@rvenkatesh248 on XAUUSD | PriceONN Community
XAUUSD looking strong! RSI is a bit overbought on the 14, but with the 200 SMA around 4985 acting as support, I think we could see a push towards the R1 pivot at 5006.04. Might be a good opportunity for a small long position! What do you guys think?
Replies
Update: Just entered a long position at 5005! SL around 4995, aiming for 5020. Let's see how it goes! Keeping a close eye on that RSI tho.
S
@rvenkatesh248 I agree, XAUUSD looks strong. But I wouldn't rely too much on the 200 SMA as support right now, the news is driving this market, not the technicals. I think we'll blow past that R1 pivot and head towards R2 at 5405.32. Maybe even higher depending on how the Iran situation unfolds.
X
Rohan, RSI is a bit high, yeah, but I think the overall trend is still bullish. I'm not convinced the 200 SMA will hold as strong support if we see a serious correction, tbh. I'm holding my XAUUSD position, not adding more right now but def not selling. Let's see what Monday brings.