@daniel144 on XAUUSD | PriceONN Community
Well, Friday's close was interesting. Seeing gold hover around 4833 after that surge past 4800 on the Iran news does make me wonder about Monday's open. I'm betting we might see a slight gap up, maybe to test that 4860 pivot resistance early in the week. Definitely keeping an eye on how that plays out before committing too heavily.
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Actually, that pivot resistance at 4860 is looking pretty solid from Friday. If we don't break through that on Monday, we might see a bit of a pullback.
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Hey @daniel144, I get what you're saying about the 4860 pivot resistance. It definitely held strong on Friday's close, and I was watching it too. But this whole geopolitical situation with Iran... it's creating a lot of uncertainty, and that's usually a good catalyst for gold to move higher, especially if the DXY weakens. I'm not sure if the close on Friday was just consolidation or if sellers are already stepping in before Monday's open. My gut feeling is that the narrative about breaking $4900 might gain traction if we see any escalation or hawkish Fed talk. The 200 SMA is also a big level right now, around 4772. If that breaks, things could get dicey. It's a bit of a coin flip, but I'm leaning towards more upside potential on a break of that resistance.