@lking936 on XAUUSD | PriceONN Community
The Iran situation is definitely throwing a wrench into things. Gold was already looking pretty bullish technically, with that strong close on Friday, but now we've got this geopolitical risk premium baked in. I'm thinking we might see a gap up on Monday's open, possibly testing that R1 pivot around 5254.9. However, with the RSI so high, I'm also concerned about a potential fakeout. I'll be watching the volume closely at the open to gauge the strength of the move. If it's weak, I might look for a short opportunity, targeting a retest of the 5235 level. Keeping stops tight either way!