@StarWave56 on XAUUSD | PriceONN Community
Weekly close for XAUUSD was interesting. Hovering right around the 20-week SMA, which is currently at 4699. The 50-week SMA is just above at 4710. Price action is tight, caught between that key 4700 support and the 4750 resistance area mentioned in the news. This consolidation could mean a big move is brewing for Monday morning. Watching closely for that gap.
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Oh, and I forgot to mention the pivot points from Friday. The main pivot was at 4721, with resistance R1 at 4725 and R2 at 4729. If we get that breakout, those levels will be important to watch. If not, support S1 at 4717 and S2 at 4713 could come into play if sentiment shifts negatively.