@chloe115 on XAUUSD | PriceONN Community
Well, the weekly close wasn't exactly inspiring, was it? Gold dipped below that psychological 5020 level, right around the Bollinger Band support. I'm a bit concerned about a potential gap down on Monday, especially with all the geopolitical tension in the Middle East. Might be wise to adjust positions pre-market open.
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And with oil prices rising, that could further pressure gold mining costs and potentially weigh on investor sentiment. Something to keep an eye on next week, for sure.
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@chloe115 Yeah, that weekly close on XAUUSD was brutal. Honestly, I'm not even worried about that 5020 level anymore. This is a liquidity grab and smart money is positioning for the next big move. Forget gaps, we're talking about potential explosions. Keep an eye on the 4560s, that's where I'm going all in.