@lily98 on XAUUSD | PriceONN Community
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Expecting a bit of a pullback next week, maybe down to 5140-5150 area before any further upside. US/Venezuela gold deal might have a short-term impact. Just a hunch, though.
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Hi @lily98, that's an interesting point about the potential pullback. I've been watching the chart closely, and while I agree a slight dip is possible, I'm not sure it will be as deep as 5140. The bullish momentum seems quite strong, especially with the dollar weakening. I think the Iran news is still playing out, and that's giving gold a boost. I'm keeping an eye on the 5180 level as a key support now. If that holds, I think we'll see it pushing higher towards 5200 soon. What do you think about the RSI? It's still below 70, suggesting there's room to run.
Hi @lily98, 5140 is quite a dip o! I'm thinking more like 5180-5200 before it finds support again. That US/Venezuela news might shake things up sha.