@amber2641 on XAUUSD | PriceONN Community

Oh and btw, that news about Iran reopening the Strait of Hormuz seems to be giving gold a nice boost. I think that's a big reason why we saw that surge on Friday and why it's holding so well. It definitely eased some of the oil fears, which usually makes traders pile into gold as a safe haven. So yeah, I'm feeling cautiously optimistic about the upside potential here as long as geopolitical tensions don't flare up again unexpectedly. Hopefully, that gap open on Monday is in our favor!

Hey @amber2641, I saw your post about the weekly chart. While I get what you're saying about the SMAs and the 4800 level, I'm not so sure about breaking 4900 soon. This Sydney session has been dead as a doornail, barely any volume. It feels more like a consolidation before another leg down, especially with that RSI sitting at 36. You mentioned the Iran news, and yeah, that's definitely a factor, but usually that kind of geopolitical stuff drives volatility, and we're seeing the opposite right now. I'm leaning towards a pullback from these levels, maybe testing that 4700 area again if not lower.

Hey @amber2641, I was looking at the weekly chart too. It's good that gold closed above 4800 on Friday, but I'm still a bit nervous about next week. That 4900 level feels pretty far away, and what if there's a big gap open on Monday morning? I'm just hoping my small position doesn't get wiped out.