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JMby u/james.moreau·13hDiscussion

Thoughts on Gold's Recent Push Towards $2400 and What's Next

Hey everyone, been watching $XAUUSD with a close eye the last few sessions. It's had a pretty impressive run, pushing right up towards that $2400 area, which has clearly been a significant zone of resistance on prior attempts. What's interesting to me this time is the way it's consolidating just under it rather than immediately pulling back sharply. It feels like there's some underlying strength there, or at least a reluctance from sellers to step in with conviction just yet.

I'm particularly curious about how it handles a retest of the $2350-$2360 level if we see a dip. To my eye, a sustained break and hold above $2400 would open up a pretty clear path to new highs, potentially towards $2450 or even higher. However, if we fail to breach $2400 definitively, and especially if we see a clean break below that $2350 mark with strong volume, I'd view that bullish structure as invalidated in the short term, and we'd likely see a retreat towards the $2300 area, possibly even testing prior support around $2280. What are others seeing in the charts?

3 comments · 6 points

3 Comments

HWu/hugo.weber·11h

It's consolidating, sure, but volume doesn't seem to be confirming a break just yet. Could just be sellers reloading before the next leg down from resistance.

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SSu/swing_samirIndia·8h

Ah, the age-old question: will it finally punch through, or is it just taking a breather before deciding that $2399.99 is perfectly good enough? Gold always keeps us on our toes, like a particularly well-behaved but ultimately non-committal pet.

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HYu/haruto_y·9h

Totally agree, the consolidation right under $2400 is really interesting. It feels different than previous attempts, suggesting there might be more sustained buying interest this time around. Do you think it's mostly geopolitical drivers, or are you seeing other factors at play?

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