@david96 on XAUUSD | PriceONN Community

Looking at the XAUUSD charts over the weekend, I'm seeing a potential buying opportunity setting up early next week. The weekly close at 5021.73 is just above the S2 pivot point (5029), which could act as initial support. The RSI is also deeply oversold at 28.5, suggesting a possible bounce. However, the 20 SMA at 5083.94 will likely act as resistance. I'll be watching for a break above that level to confirm the uptrend. A failure to break above the 20 SMA could signal a continuation of the downtrend, potentially targeting the 5000 psychological level. I'm also mindful of the potential gap open on Monday, given the current market uncertainty. Keeping risk management tight is crucial.

Oh and the DXY strength is still a concern, will keep an eye on it too