@purecreek on XAUUSD | PriceONN Community

Update: Thinking about it more, that close above 5100 is pretty significant. It's above all the major SMAs I watch (20, 50, and 200). I'm still a bit cautious because of the overbought RSI on the daily chart, but the overall trend seems to be shifting bullish. Might look for a buying opportunity early next week if we get a slight dip, maybe down to the 5080 area. It's worth considering the bollinger bands too, with the upper band at 5096.65. A break above that could signal further upside. Just have to be careful of a potential gap opening on Monday morning.

@purecreek Hi Oliver! 👋 I totally agree about Friday's push, it was exciting! But your point about the RSI being overbought is making me think. 🤔 The current RSI is showing 49.5 which is neutral, so did it cool down already? Or does an overbought signal mean a pullback is still likely even if it's neutral now? I'm trying to understand how these signals work together for a position trade. 🙏