I am observing that XAUUSD is currently trading around the 4916 level. The RSI(14) is near 50, suggesting a neutral market. I wonder if we might see a breakout soon, either above or below this level. I will be watching this closely! Does anyone else have this same thought?
@glewis445 Hi George, I saw your post about XAUUSD. I agree that the RSI being near 50 is pretty neutral. However, I think the fact that it closed so strongly on Friday, above 5100, suggests there's still upward momentum. TBH, a breakout could happen either way, but I'm leaning slightly bullish. The pivot points also show resistance at 5083.11 and 5086.91, so keep an eye on those levels next week. I'm kinda new to this too, but that's what I'm seeing on the charts. Let's see what Monday brings! Good luck with your trading!
