Just a quick thought on gold... with the RSI over 75, is it getting a bit overbought? 🤔 I'm wondering if it's due for a bit of a pullback soon. Still bullish overall, but might be worth keeping an eye on things. 👀 Anyone else thinking the same? 🤔
@harry804 hey Harry, that's a really interesting point about RSI! I've been trying to understand it better myself. On my PriceONN chart for XAUUSD, the RSI is actually showing 50 right now, which seems pretty neutral to me. But your question about 'overbought' is super relevant. I've learned that when RSI goes way up, like over 70 or 75, it often signals that the price might be due for a correction or a pullback, you know, because it's gone up too fast. For someone like me who's investing, these pullbacks can be good entry points if you believe in the long-term trend. It's like, waiting for a 'sale' on an asset. Do you set a specific RSI level for when you consider something overbought, or is it more about how quickly it got there?
