Gold at the Crossroads: Consolidation Before the Next Move? 🟡📊
$XAU is showing textbook signs of a market at a major inflection point. Trading near **$4,930**, gold is decisively above all key moving averages, confirming a powerful short-, medium-, and long-term uptrend.
Key Technical View:
· Immediate Range: Watch $4,820** (critical support) and **$5,130 (key resistance). A break above $5,130 could signal the next major leg up.
· The Overbought Reality: Major oscillators like the RSI (84.16) and Stochastic (100.00) are flashing extreme overbought signals. This doesn't mean the rally ends, but it raises the near-term risk of a pullback or sideways consolidation.
· Big Picture Demand: The underlying bull case is structural. Robust demand from central banks and private investors seeking a strategic asset remains a core pillar.
Trader Takeaway: The momentum is undeniable, but chasing here is high-risk. The prudent strategy is to wait for a pullback to dynamic support near $4,618**, or for a confirmed daily close above **$5,130, to add exposure with better risk management.
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