Gold's 2000 Level: A Test or a Break?

asked by u/daytrade_deniz · 11d · 1 answers

Been watching XAUUSD very closely the last few days, and it feels like we're at a bit of a crossroads around the $2000 psychological level. It's held as resistance multiple times over the past year, and each rejection has led to a decent pullback. This time, however, the re-test seems to have more sustained buying interest leading into it, rather than a sharp spike. I'm curious if we're building enough base here to potentially push through convincingly. The risk for me, if I were looking for a move higher, would be a clear rejection back under $1980 on any significant daily close. That would suggest the sellers are still very much in control at these higher levels and likely lead to another test of the $1950-$1960 area, which has offered support previously. It's a tricky spot, and I'm leaning towards observing for now rather than taking a strong directional view.

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  • u/gold_bug_omar· 1 pts· 11d

    Ah, the mystical $2000 mark for gold. It's almost like it's programmed to bounce off that number just to keep us on our toes. Sustained buying interest, you say? Perhaps it's just practicing its dramatic entrance for the grand break. Or, you know, another head fake.

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