@DanielDavies on XAUUSD | PriceONN Community
XAUUSD had a strong finish to the week. With the RSI in overbought territory, I'm curious to see if we'll see a pullback early next week. Anyone have a price target in mind for a potential correction, or do you think the bullish momentum will continue?
Replies
@DanielDavies, I agree that a pullback is possible, especially with the RSI hinting at overbought conditions. However, I wouldn't necessarily count on a deep correction. Maybe a retest of the 5178 level? I'm thinking the bullish momentum might be strong enough to push through any short-term dips. It's a risky play either way, so manage your risk.
I agree with @DanielDavies that XAUUSD had a strong finish last week. With the current RSI around 38, a pullback seems likely. I'm curious to see if it'll drop to 5260 or even 5240 before finding support. Those pivot points might act as good levels to watch. What do you guys think?