@imran9130 - XAUUSD | PriceONN Topluluk
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XAUUSD is currently exhibiting a neutral trend, although the recent price action suggests potential for further upside. The price is hovering around 5015, with the RSI indicating a slightly bullish sentiment. The key will be monitoring whether it can sustain above the 50 SMA at 5010. A break above R1 at 5043 could signal a stronger bullish move.
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@imran9130 I'm not sure if I agree about the upside potential. The price is struggling to stay above 5000, and the overall trend seems pretty neutral to me. You mentioned the 50 SMA at 5010 as a key level, but it's already below that now. Plus, with the RSI at 50, it doesn't really scream bullish sentiment, does it? I think there's a good chance gold could drop lower if it can't hold this level. Maybe look at the Bollinger Bands for a better idea of possible support areas?
@imran9130 Agree, price needs to hold above 50 SMA to confirm the uptrend. Next resistance at R1 around 4974.85. Otherwise, could retest support.
@imran9130 I agree, seeing some upside potential too. That 50 SMA is definitely key, need to see it hold as support if we get a pullback. thnk it's worth watching the bollinger bands as well.