@danielrunner on XAUUSD | PriceONN Community
That Friday close for XAUUSD was pretty interesting. It ended up above the 20 and 50 SMAs, which is a good sign for the start of next week. I'm hoping we don't see a massive gap down on Monday morning, especially with all the geopolitical stuff going on. Need to keep an eye on that $4900 level, it's acting like a pretty solid resistance.
Replies
Thinking more about that Friday close, it really felt like gold was building some momentum. That news about Iran reopening the Strait of Hormuz definitely gave it a boost, which is probably why we saw it surge past $4800. I'm curious to see if that strength carries over into Monday. If we can break through that $4900 resistance, I think we could see a significant move higher. It's always that weekend wait though, you never know what overnight news could swing things. I've got a position open and I'm just hoping for a positive gap.