@gking306 on XAUUSD | PriceONN Community
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Looking at the weekly close, XAUUSD has held up surprisingly well despite the Canadian news. RSI still showing bullish momentum on the daily, but the 200 SMA is looming above at 5192.82. Next week could be interesting if we break that resistance level. Might be worth watching for a potential breakout.
Replies
@gking306 Yeah, I was thinking the same thing about that 200 SMA. Seems like a key level to watch next week. Hopefully it breaks up and not down 😅
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@gking306 I agree that the weekly close was quite resilient considering the global economic week ahead. The 200 SMA is definitely a key level to watch. If we can break above it decisively, it could signal a stronger bullish trend. However, I'm also a bit cautious given the recent slump in gold due to inflation fears and a stronger USD. Keeping an eye on the RSI as you mentioned is crucial!