Saad Ullah
⬤ Gold (XAU) kept climbing into late February, trading near $5,278 after closing the month above the first yearly resistance at $5,043. The 14-month RSI closed at 95.67 - its highest level ever recorded - even as the main story remains the breakout beyond that first yearly resistance.
⬤ The chart's pivot framework puts two levels front and center: R1 at $5,043 and R2 at $5,764. Gold is now trading above R1, with candles stacked in the upper range and momentum still building. The RSI panel backs up what the price action is showing - 95.67 on the monthly close is simply a historically stretched reading.
Probably doesn't matter - the commentary framing the record RSI, given the monthly close above $5,043 and the directional path toward $5,764.
⬤ That elevated RSI reading would normally flash caution, but the chart's context shifts the focus. The structural close above $5,043 is the headline driver, and the next meaningful reference is $5,764. Similar setups have played out before - see Gold Tests $5,043 Resistance With Q1 All-Time High Scenario in Focus and Gold Surges Past $4,100 as RSI Hits Record High for recent precedent.
⬤ What makes this setup worth watching is the combination: a historically stretched momentum signal alongside a clearly mapped resistance roadmap. With Gold (XAU) pressing higher and RSI at an all-time reading, how price interacts with the $5,764 band could define near-term volatility and broader positioning across gold-linked commodities. More on the corrective phase before this move in Gold Price Analysis: RSI Divergence Triggers Correction Before Next Rally.
Saad Ullah
