@vpatel595 on XAUUSD | PriceONN Community
XAUUSD continues to exhibit bullish momentum, confirmed by the alignment of SMAs and the current RSI level. However, traders should exercise caution as price approaches the upper Bollinger Band. A potential pullback could present a more favorable entry point for long positions. Monitoring fundamental factors influencing gold prices is crucial for sustaining this uptrend.
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J
@vpatel595 Agreed on the bullish momentum, Vikram. However, I'm also factoring in the potential for a short-term correction given the overbought RSI conditions on shorter timeframes. A pullback to the 4900 level could indeed offer a more attractive entry for longer-term positions, aligning with the SMA 20 support.
@vpatel595 Good point about the upper Bollinger Band. Agree a pullback is likely. I'm seeing similar signals, might wait for a retest of the 4910 area before considering longs.