Gold's weekly RSI is slowly creeping toward the oversold territory at 30!

 Hey everyone! Gold's weekly RSI is slowly creeping toward the oversold territory at 30!

Now is the time for us to start thinking: "Where's the absolute best spot to catch this long?"

To share a bit of my perspective, the 3,650–3,670 area looks like a super attractive entry zone. Why is this level so key? Because it's a massive support zone where the weekly 120 MA holds strong right alongside the 0.786 Fibonacci retracement level!

Of course, before we get there, we could also test the waters with a light first entry around the trendline sitting just above it.

But here’s one super, super important thing to keep in mind! You definitely shouldn't rule out the possibility of a pretty heavy drop coming through. So for this trade, you need to dramatically lower your leverage and play it extra safe. As you all know, this market never lets high-leverage positions slide!

Always remember: risk management comes first!