@lgreen706 on XAUUSD | PriceONN Community
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XAUUSD nearing the 50 SMA. If it breaks through, expect it to test the 200 SMA around 4983. RSI is showing bullish momentum, but watch for overbought conditions. A pullback to the 4935 area wouldn't be surprising before another leg up. Keep an eye on the Bollinger bands too.
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Interesting points @lgreen706. I agree a pullback is definitely possible, RSI is showing overbought conditions on the daily. Might wait for a retest of the 5080 level before considering any new positions. Gotta manage that risk!
@lgreen706 I agree with your assessment regarding the 50 SMA. A break there would be significant. However, I'm a bit more cautious about the bullish RSI momentum you mentioned. I'd like to see a more sustained move above 50 before confirming that. Good call on the Bollinger Bands though, they are definitely something to watch closely for potential volatility.