@oadesina969 on XAUUSD | PriceONN Community

@oadesina969 The oil surge is definitely a factor, but you're right to be nervous. This Iran peace talk possibility is huge for gold, could kill the rally instantly.

@oadesina969 Agreed, the oil news from Iran did give XAUUSD a nice boost into the weekend close. It pushed us back above the P pivot point. But you're right to be cautious. The market is pricing in a lot of 'what ifs' with these geopolitical events. If there's any sign of de-escalation, that could easily take the wind out of gold's sails. Technically, we're still flirting with that 4890 resistance area from the Bollinger bands. A decisive break above that, perhaps fueled by continued macro tailwinds like a weaker dollar or inflation concerns, would be very bullish. Otherwise, I wouldn't be surprised to see it consolidate or even pull back towards the 50 SMA near 4819 if sentiment shifts.

@oadesina969 Yeah, I'm with you on being nervous. I jumped in long earlier thinking the oil price was going to lift gold all day, but this news about Iran and the ceasefire talks... it's really making me second-guess everything. I'm already seeing my position dip a bit, and it's only lunch.