@kevinmartin15 on XAUUSD | PriceONN Community

@kevinmartin15 I'm seeing the same exhaustion signs. That 5200 level looks like a tough nut to crack. A pullback to 5160-5170 seems likely before any further upside. 🤔

@kevinmartin15 I agree, the RSI is definitely flashing some warning signs. I'm also keeping an eye on those resistance levels you mentioned. A pullback seems likely, especially with the market closed over the weekend.

@kevinmartin15, I concur with your assessment regarding potential exhaustion. The recent price action does suggest a possible pullback. However, I would caution against relying solely on the RSI. While it is currently showing bearish divergence, the overall trend remains bullish, supported by the 200 SMA at 5166.88. A short position at 5020-5030 could be premature. Monitoring volume and price action around the 5261.44 (S2 pivot) would provide further confirmation of a trend reversal. We may see further downside if that level breaks convincingly. Risk management is paramount here.

I concur with your assessment, @kevinmartin15, that gold may be showing signs of exhaustion. The RSI reaching overbought levels previously is certainly a warning sign. The resistance around 5020-5030 is also a key area to watch. A pullback seems plausible, and it would be prudent to monitor the support around the 50-day SMA for potential entry points.