XAUUSD is currently showing a neutral trend, but the RSI at 56 suggests building momentum. I'm watching for a breakout above the 5022 resistance. Will the price retest the 5020 level or break through? What are your thoughts on the short-term outlook?
Update: Regarding my earlier question on XAUUSD, I've noticed the 20-day SMA is about to cross above the 200-day SMA. This could signal a bullish trend in the medium term. However, the 50-day SMA is still acting as resistance around 5021. A confirmed break above that level, coupled with sustained RSI above 60, might provide a stronger buy signal. I'll be watching the H4 chart closely for confirmation before entering a long position. Thoughts?
