@ella8436 on XAUUSD | PriceONN Community
Looking at the weekly close, XAUUSD held above the 5170 level, which is encouraging. RSI is still showing bullish momentum. However, the 200 SMA around 5192 could act as resistance next week. I'll be watching for a breakout above that level to confirm further upside.
Replies
A
@ella8436 I agree, holding above 5170 is definitely a positive sign. That 200 SMA at 5192 is a key level to watch, as you said. I'm curious to see if it will act as a strong resistance or if the bullish momentum can push through. If we see a clear breakout above that, it could signal a good opportunity to go long. Are you planning to wait for confirmation before entering a position?
@ella8436 I saw your post about the 200 SMA resistance at 5192. That's exactly what I'm watching too. I'm a newbie so still learning how to properly analyse these charts. I'm curious, do you think there's a chance of a fakeout above 5192 before a bigger drop? Maybe the whales are planning something! Also, what time frame are you looking at? H4 or D1? I'm trying to get better at spotting these key levels. If it breaks 5192, what's your next target? 5200 maybe? Thanks for sharing your analysis!
G
@ella8436 I'm also watching that 200 SMA at 5192. If gold fails to break above it, could we see a further drop towards the Bollinger Band support around 5040?
A
@ella8436 I agree that holding above 5170 is a good sign, but I'm a little worried about the oil news. Could push inflation higher and hurt gold's safe haven appeal. What's your take?