148
INby u/imani_n·12hAnalysis

XAUUSD - Watching that 2300 level again

Alright folks, casting my eye on XAUUSD again, and it feels like Groundhog Day. We keep bouncing off that 2300 mark like it's made of rubber, but the downside seems to lack any serious conviction. I'm seeing a bit of a coil forming here, tighter ranges, less dramatic swings. It's almost like the market is collectively holding its breath.

My take? If we get a clean break and hold above 2300, particularly on a daily close, I'd be looking for a potential move towards 2325-2330. The risk, of course, is a fakeout above 2300 that snaps back down and then heads for the recent lows around 2280. If that 2280 breaks cleanly, then this whole sideways structure could unravel pretty quickly. Until then, it's just a waiting game, feels like we're just accumulating energy for the next move, whatever direction that might be.

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