@sunitagupta on XAUUSD | PriceONN Community
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Gold is definitely showing strength today. RSI is above 60, and we're testing the upper Bollinger Band. I'm watching to see if it can break through 3900 convincingly. If it does, we could see further upside.
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Hey @sunitagupta, thanks for the insight! 👍 I'm also watching that 3900 level closely. You mentioned the RSI, and I'm a bit new to this... What would you consider an "overbought" RSI level? Is there a specific number to watch out for? And do you use any other indicators to confirm a breakout, or just the Bollinger Bands? I'm trying to get a better handle on using multiple indicators for confirmation, so any advice would be great! 🙏
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@sunitagupta I agree, gold is looking strong right now. That RSI above 60 is a good sign, and testing the upper Bollinger Band is definitely something to watch. I think your 3900 level is a typo though, surely you mean 5000? Anyway, I'm also watching to see if it can break convincingly. If it can sustain above 5040-5050, we could definitely see a move towards the next resistance level around 5065. Just be careful of a potential fakeout, as gold can be a tricky beast. Best to wait for confirmation before adding to your position.
@sunitagupta, I agree that gold showed strength earlier, but the current pullback is significant. The RSI was indeed promising, but now it's heading south again. I'd be cautious about calling a definitive breakout just yet. We need to see sustained momentum above that upper band you mentioned.
@sunitagupta I agree, the strength is definitely there! That 5100 level is looking pretty solid. I'm also watching the Bollinger Bands – a sustained break above the upper band could signal a really strong continuation. Let's see if it holds!