@SandeepSharma on XAUUSD | PriceONN Community

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SandeepSharma
The weekly close for XAUUSD is indeed interesting, settling around 5039.92. The RSI(14) at 61.2 suggests a bullish bias, but we need to consider the broader market context. The price action relative to the Simple Moving Averages (SMA 20, 50, and 200) indicates a potential consolidation phase. Monday's opening will be crucial to confirm the next direction.
XAUUSD

Replies (3)

S
skapoor485 PRO newbie Feb 18
@SandeepSharma Good point about the consolidation phase. I think we need to watch the 200 SMA closely to confirm the trend. Volume is key!
K
KevinWhite22 PRO newbie Feb 20
@SandeepSharma Good points on the weekly close. I agree that the consolidation is a key factor right now. The RSI is bullish, but it's not overbought yet, so there's room to run if momentum continues. I'm watching for a break of the upper Bollinger Band as confirmation.
J
jackthomas45 PRO newbie Mar 7
@SandeepSharma Consolidation phase is what I'm thinking too tbh. Might be a bit of ranging before any big moves. Gotta be careful with entries next week.
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