@william9897 on XAUUSD | PriceONN Community
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Right then, gold's looking rather perky, isn't it? RSI's getting a bit toppy though, what do we reckon, chaps? A bit of a pullback on the cards before it carries on up, or is this the start of something properly exciting? Any thoughts on where it might find some support if it does dip a bit?
Replies
@william9897, perky is one word for it! I agree, RSI's flashing red. A pullback is definitely on the cards. I'd say watch the 5250 level for initial support; that's roughly where the R1 pivot is. However, with the breaking news about the US and Israel's joint military strike on Iran, safe-haven buying might just blow through any technical resistance. Could be a wild ride next week, so keep your stops tight and your wits about you, old boy! I'm thinking of taking a small short position over the weekend just in case things cool off.
Hey @william9897, I agree that the RSI is looking a bit overbought! A pullback could definitely be on the cards. I'm also keeping an eye on the 50 SMA around 5127 as a potential support level if it does dip. It's been a reliable indicator for me lately, so I'll be watching to see if it holds!