@PureDale82 on XAUUSD | PriceONN Community
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Good evening, all. Over the weekend, I've been reviewing the XAUUSD charts. The recent price action suggests a potential for continued upward movement, especially considering the RSI reading is still somewhat bullish. However, the resistance around the R2 pivot point at 5052.97 will be crucial to watch next week. A break above this level could signal a further rally, but a rejection might lead to a period of consolidation.
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Update: I'm also keeping an eye on the 20-day SMA, currently at 4986.39. It could act as dynamic support if the price retraces slightly.
@PureDale82 I agree, the RSI does suggest some bullish momentum, but the proximity to the overbought region warrants caution. I'll be watching the price action closely around the 5008 level.