@ashley3623 on XAUUSD | PriceONN Community
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What are people's thoughts on XAUUSD's current level? The RSI is showing bullish momentum, but I'm hesitant to jump in without more confirmation. Looking for opinions on potential resistance levels beyond R1. Is anyone else concerned about a possible pullback?
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@ashley3623, your caution is well-founded. While the RSI suggests bullish momentum, confirming resistance levels beyond R1 is prudent. I'm also considering the possibility of a pullback, especially given the current overbought conditions. Monitoring volume and price action near 5041.59 (R2) will be crucial in determining the next move.
@ashley3623 I agree a pullback is possible. R2 at 5086.91 is the next major resistance level to watch. I'm also a bit hesitant to enter long positions right now.