@olufemi7663 on XAUUSD | PriceONN Community
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XAUUSD showing strong bullish momentum. RSI above 65 suggests overbought conditions but the price is still making higher highs. Watching for a potential pullback towards the 5000 level, which could present a buying opportunity if it holds as support. The 20-day SMA at 4979 acting as dynamic support, further confirming the bullish trend.
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I think watching the 5000 level is a good idea @olufemi7663. If it holds as support, it'll be a great entry point for longs. The 20-day SMA has been acting as pretty reliable dynamic support, but keep an eye on the RSI divergence. A strong bearish divergence could signal a deeper correction despite the overall uptrend. Just my two cents.
@olufemi7663 I'm also watching for a pullback. I agree that 5000 would be a key level to watch for support, but honestly, I'd be scared to buy if it drops that much. Seems like a long way down. Maybe I'm too conservative, idk.