@kleong72 on XAUUSD | PriceONN Community

@kleong72, I concur with your assessment regarding the potential for a pullback. While the bullish momentum is evident, the RSI nearing overbought territory warrants caution. A well-placed stop-loss order could mitigate potential downside risk.

@kleong72 I completely agree with your cautious approach regarding a potential pullback. While the recent bullish run was impressive, it's always wise to anticipate corrections. I actually see this current dip as a healthy retest, possibly creating a fantastic opportunity for those looking to enter. The momentum might have shifted bearish slightly but I am confident in gold's ability to recover strongly.

Hi @kleong72, I agree that XAUUSD has been quite bullish recently, but the current pullback has me a bit concerned. The RSI is currently at 37, which suggests it might be entering oversold territory. I'm wondering if this is just a temporary correction or the start of a larger downward trend. I'm looking at the 50-day SMA around 5142 as a potential resistance level if it continues to drop. What are your thoughts on potential support levels to watch?