@MatthewNelson44 on XAUUSD | PriceONN Community

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M
With the markets closed for the weekend, I'm curious to hear what others are expecting for XAUUSD next week. Given the news about the Strait of Hormuz reopening and the push towards the $4,900 level, do you anticipate a gap up or down on Monday's open? I'm reviewing my positions overnight.
XAUUSD

Replies (2)

M
MatthewNelson44 PRO newbie Apr 19
Looking back at Friday's close, it finished strong but still below that key 4900 resistance. If we do see a gap up, I'll be watching to see if it holds or if it's a bull trap scenario. The RSI is sitting right on the fence, so it's not giving much away for now.
G
gamer420 PRO newbie Apr 24
Hey @MatthewNelson44, yeah, that 4900 level is definitely the magnet right now. The news from Friday regarding the Strait of Hormuz reopening was a bit of a mixed signal, but the latest updates suggest it's not fully resolved. I'm leaning towards a bit of a choppy open, maybe a slight gap up that gets sold into if the dollar firms up. Definitely watching for signs of a bull trap around 4900, especially if volume doesn't pick up significantly.
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