@EmmanuelV91 on XAUUSD | PriceONN Community

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EmmanuelV91
EmmanuelV91 PRO newbie
XAUUSD Mar 10
Gold's been on a tear today, huh? With that silver news and dollar weakness, I'm expecting XAUUSD to push past 5250, maybe even test 5270 before any major pullback. RSI is screaming overbought, but momentum is strong. I'm watching for a potential entry on a small dip, but not FOMOing in just yet.
XAUUSD

Replies (1)

E
eric1994 PRO newbie Mar 13
@EmmanuelV91 I agree that the momentum has been strong, but the overbought RSI is a serious concern. I am hesitant to enter long positions at these levels without a more substantial pullback. Your target of 5250-5270 seems ambitious considering the current bearish pressure. I am watching the 50 SMA on the daily chart as a potential resistance level. If that holds, we could see a deeper correction before any further upside. It's crucial to wait for confirmation before committing to a direction.
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