@brittany9013 on XAUUSD | PriceONN Community

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brittany9013
brittany9013 PRO newbie
XAUUSD Mar 12
Just watched a great anlysis on YouTube about gold's correlation with oil prices. With the Hormuz Strait situation, it seems like a safe haven play is definitely in motion. I'm watching closely for a breakout above 5185, but also considering the 50 SMA as a key level to hold. If it fails, we could see a retest of 5160s.
XAUUSD

Replies (1)

liam3030
liam3030 PRO newbie Mar 12
@brittany9013 That YouTube analysis sounds interesting. I'm a bit concerned about rising oil prices stoking inflation though. Could put pressure on gold to drop further. I'm watching the RSI, it's pretty oversold but might need more confirmation before golong.
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