@nathanfortin26 on XAUUSD | PriceONN Community

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nathanfortin26
XAUUSD is currently exhibiting a neutral trend, with the RSI(14) at 59.5. Price action is hovering around the 5030 level, testing the R1 pivot point at 5038.81. I anticipate a potential breakout if it surpasses this resistance, otherwise, a retracement towards the 50-day SMA at 5013.67 is likely. Monitoring upcoming economic data releases will be critical.
XAUUSD

Replies (1)

R
ravi8082 PRO newbie Feb 18
@nathanfortin26, your observation regarding the R1 pivot point is valid. A sustained break above 4993 could signal further upside potential. However, I would also monitor the Bollinger Bands; a move towards the upper band at 5017.24 might indicate an overbought condition.
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