@cjimenez768 on XAUUSD | PriceONN Community

@cjimenez768, your observation about the price hovering around the R1 pivot is spot on. However, relying solely on pivot points can be misleading. While R1 might act as a temporary resistance, it's essential to consider broader market sentiment and momentum. The fact that XAUUSD is trading above its 50-day SMA (currently at 5270.38) suggests underlying bullishness. A small correction is possible, but I wouldn't bet against a continued move higher, especially if we see positive news flow related to gold demand or geopolitical tensions. Keep an eye on the Bollinger Bands as well; a breakout above the upper band at 5426.69 could signal further upside.