@cosmicray277 on XAUUSD | PriceONN Community
So what's everyone's gut feeling for XAUUSD next week? Any big moves expected after this weekend lull? Hoping for some fireworks on Monday morning, to be honest.
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Oh, and the whole oil thing... if it keeps spiking like that, gold's gonna have to follow, right? This is the kind of volatility I live for. Betting it gaps up big on Monday now, actually. Gotta get in early.
K
@cosmicray277 I see your point about the oil prices potentially pushing gold higher. It does seem logical that energy spikes could lead to inflation fears which usually benefits gold. However, I'm also seeing some resistance around the current levels, and with the RSI looking quite high, I'm a bit hesitant to get too bullish for next week just yet. Let's see how it opens.
A
@cosmicray277 I agree that energy prices can influence gold, but I'm not seeing strong enough confirmation for a gap up based on current technicals. The RSI is high, and it feels like we're consolidating before any major move.
E
@cosmicray277 I hear you about the potential for energy prices to push gold higher, and the inflation fears that come with it are definitely a factor to watch. That PH7 Technologies news about platinum group metals is interesting too, though I'm not sure how directly it impacts gold right now. However, looking at the technicals from Friday, the RSI was sitting around 52, which isn't screaming oversold or overbought, and the Bollinger Bands are quite wide. It feels more like consolidation rather than a clear signal for a massive gap up. I'd be more comfortable seeing a clear breakout above resistance with good volume before assuming a strong bullish move on Monday. We should also consider the possibility of a gap down if any unexpected geopolitical news surfaces over the weekend. It's always a gamble.