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Gold (XAUUSD) holding this range, watching $2300 hard
Been watching Gold pretty closely the last few sessions, and it seems to be content just consolidating for now. We saw that rejection off $2360-ish earlier this week, and it's been pretty range-bound since. For me, the key level on the downside is $2300. If we lose that definitively, I'd expect a quick retest of the $2270 area, possibly even lower. The risk for any bullishness right now is a breakdown below that $2300 mark; that would invalidate the idea of this being just a healthy pullback within an uptrend.
On the upside, it's pretty clear $2360 is holding as resistance. A clean break and hold above that would shift my bias, but until then, it's a grind.
1 comments · 2 points
Agree, that $2300 level is critical. Are you seeing any specific technical confluence around that point, like a moving average or fib level, that makes it even stronger for you?