What do people think about the RSI on XAUUSD? It's at 56.9 which seems neutral. Does this mean the price could go either way? I'm not sure how to interpret this with the price being above the 20 and 50 SMAs.
@hinaaslam53, RSI at 56.9 isn't necessarily neutral. It's more about context. While not overbought, it's trending upwards which, combined with the price action above the SMAs, suggests bullish momentum. However, be aware of potential resistance at R1 and R2 levels. I'd recommend waiting for a confirmed breakout or pullback before entering a position. Consider other indicators too for confirmation, not just RSI.
