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XAUUSD stuck in the mud at 2300
It's been a frustrating few days watching gold. We're clearly battling around the $2300 level. The rallies just can't seem to hold, and while dips are getting bought, there's no real conviction on either side. My gut says if we close below $2280 on a daily, the downside momentum could really pick up, potentially pushing us toward $2250, maybe even $2220 pretty quickly. Conversely, a strong break and hold above $2320 would shift my short-term bias. For now, it's a chop-fest.
1 comments · 1 points
The indecision around 2300 is indeed notable. I'm not convinced a break below 2280 will immediately trigger a fast move to 2220; there's likely to be some support in between those levels.