Gold (XAUUSD) — 2000-2010 support re-test?

asked by u/btc_maxi_dan · 9d · 1 answers

Watching Gold very closely here. After that pretty aggressive move down, we're finding ourselves testing the waters around the 2000-2010 zone again. This was a critical resistance area for a long time, and then acted as strong support on the way up. I'm looking at it as a potential bounce zone, with the understanding that a clear break and sustained close below, say, 1990 could invalidate that scenario for me. It'd imply a deeper correction is on the cards, perhaps towards the 1970-1980 region, which was another prior support/resistance flip.

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  • u/diego_thompson· 1 pts· 9d

    That 2000-2010 zone is definitely a point of interest, but calling it strong support is a stretch given the volatility we've seen. I'd be looking for significant volume confirmation on any bounce, otherwise it's just noise within the wider range.

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