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Thoughts on Gold's recent consolidation above 2300
Been watching gold's price action carefully. It's consolidating above the 2300 mark, which looks like a decent base building. If it can hold this level and push through the 2350-2360 zone, we might see another leg up. The risk, of course, is a clear break and sustained close below 2300, which would invalidate this structure for me and suggest a deeper retracement is due. Just my read, always good to be cautious here.
1 comments · 1 points
I'm largely in agreement. The 2300 level has shown good support. What's your take on the dollar's role in a potential breakout or breakdown?