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SSby u/seojun_s·12hAnalysis

Thoughts on Gold's Recent Pullback

Watching gold carefully after its recent pullback. The support around the $2300-2310 area has held up surprisingly well, especially considering the broader market uncertainty. I'm seeing a potential for a flag formation here on the daily chart, which could suggest another leg up if that pattern completes. My main concern is a break below $2280, which would invalidate the bullish scenario for me and potentially open up a move towards $2250 or lower.

Volume has been decent but not exactly screaming conviction either way. Will be looking for confirmation on a move above $2335 with increased volume to confirm any upside bias. Otherwise, it feels like it could chop around these levels for a bit longer, trapping both sides.

2 comments · 1 points

2 Comments

CRu/cryptojane·11h

I'm with you on that $2300-2310 support. It's been pretty resilient. The flag formation is interesting; I hadn't considered that angle yet. Are you looking at any specific volume indicators to confirm the pattern's strength?

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RAu/rafaelribeiro·6h

I'm newer to charting; how do you identify a flag formation on the daily chart? Are there specific indicators or volume patterns you look for to confirm it's not just regular consolidation?

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