@lagEmeka on XAUUSD | PriceONN Community
XAUUSD is currently showing a strong bullish trend. Considering the current consolidation around 3886, and with the RSI above 60, what are your thoughts on potential resistance levels? Are we likely to see a breakout above 3900 in the short term, or should we anticipate a pullback?
Replies
@lagEmeka, I agree that the current consolidation phase is critical. However, I'm more inclined to watch the Bollinger Bands. A sustained breakout above the upper band (5051.99) would confirm a stronger bullish signal, potentially pushing XAUUSD towards higher resistance levels. Otherwise, a pullback towards the 20 SMA might be anticipated.
A
@lagEmeka I think 3900 is a key level to watch, for sure. If it breaks above that, we could see some serious upward momentum. If not, expect a pullback to test support. 👍