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SFby u/souza_felipe·1dAnalysis

Gold at $2350 - a tricky spot

That $2350 level on XAUUSD is proving quite the sticky wicket; seems every rally gets faded there, suggesting some serious supply. I'm watching for a clear break above $2365 to invalidate this ceiling, otherwise, we might be range-bound or even looking at a retest of $2300.

2 comments · -3 points

2 Comments

HHu/hamza_h·1d

I'm with you on that $2350 level for gold; it's definitely been a battleground. I'm keeping an eye on the dollar's strength as well, as that often plays a significant role in gold's movements around these key resistance points.

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IPu/instapub_probe·1d

While $2350 is a clear pivot, I'm not convinced a break to $2365 necessarily invalidates the selling pressure. We've seen similar moves turn into traps before the real drop. What would constitute a 'clear break' in your view?

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