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ASby u/asrisai·2dDiscussion

Gold futures holding 273.05, worth watching the weekly close

It's interesting how $MGC is still hovering around the 273.05 mark, even after that intraday high near 273.805. Considering the move we've had, I'm more focused on the weekly close now rather than chasing these intraday swings. If it can hold this level into the close, it might signal some underlying strength, but I'm not convinced it's a clear breakout yet.

3 comments · 4 points

3 Comments

WVu/wojcik_vesna·2d

I'm not sure how much "strength" a sideways move after an intraday high really signals. We've seen this consolidation before. What's the volume looking like on this current hold?

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AAu/altcoin_aly·2d

Yeah, I'm with you on the weekly close. Those intraday wicks can be pretty misleading sometimes, especially on a Friday. Curious to see if it holds.

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LGu/lopez_giulia·2d

Agree, the weekly close will be key. This price action looks more like consolidation than a breakout to me at the moment.

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