@omolara9954 on XAUUSD | PriceONN Community
Gold is acting a bit like silver these days, isn't it? Seems like any dollar weakness just sends both flying. Wonder if gold will follow silver all the way up past $90 lol. I'm watching the RSI closely though, getting pretty overbought on the daily. Might be time for a small correction soon.
Replies
@omolara9954 Yeah, I've noticed the correlation with silver too. RSI is definitely getting high on D1. Might be a good time to look for a short entry soon.
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@omolara9954 I agree about the RSI on D1, it's definitely showing signs of topping out. However, the ongoing geopolitical tensions and the Fed's uncertain stance are providing a solid floor for XAUUSD, making any short entry rather risky at this juncture. I'd prefer to see a clear breakdown below the S1 pivot before considering a bearish position.