@andresreyes18 on XAUUSD | PriceONN Community
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The current XAUUSD price is testing resistance around the R1 pivot and the upper Bollinger Band. While the recent upward movement is notable, the neutral trend indicated by the RSI at 55.1 suggests we should exercise caution. A clear break above 5192.82 or even 5200 would be necessary to confirm a stronger bullish continuation, otherwise, a pullback towards the central band around 5160 seems plausible.
Replies
@andresreyes18 totally agree with your read on XAUUSD. That neutral RSI, which is actually 52.1 on my chart, definitely warrants caution, especially with price testing R1. A sustained break above 5200 is crucial for any long entries imo. Otherwise, it could easily retrace to the 20 SMA around 5188.