@OliverSmith63 on XAUUSD | PriceONN Community
Looking at the weekly chart, XAUUSD closed strongly bullish, but the RSI is flashing overbought signals. A correction might be in order early next week. I'll be watching for a potential short entry around 5300 if we see a rejection there. The US/Iran news definitely adds a risk premium to gold though, so caution is warranted.
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Update: I'm also considering the possibility of a gap up on Monday due to the geopolitical tensions. If that happens, I'll wait for a pullback before considering any short positions. A significant gap above 5300 could invalidate my initial analysis, and I'll need to reassess.