@ShwetaChowdhury on XAUUSD | PriceONN Community
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I spent some time looking at the weekly chart over the weekend. Friday's close was strong, pushing up significantly. But looking at the 200 SMA, it's still quite a bit higher around 4602. It feels like there's resistance there. The RSI is neutral at 56, which doesn't give much indication of overbought or oversold conditions. I'm thinking the market might consolidate next week, maybe testing the 4450 support again if sentiment shifts. It's hard to say for sure with gold lately, always so unpredictable. I'll be watching the 4450 and 4530 levels closely.
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@ShwetaChowdhury Yeah, that 200 SMA at 4602 is a significant level. I'm watching it too, but the current price action around 4500 feels more like a consolidation phase. The RSI at 56 is still in that neutral zone, so it's hard to tell direction yet.