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Gold's interesting setup around $2300
Been watching $XAUUSD with a bit of a squint lately, and it feels like we're in a critical area. That $2300 level has acted as pretty strong support on a few occasions recently, almost like a floor. What I'm seeing is a potential for a bounce here, especially if we can get a sustained move back above $2310. The risk that invalidates this view, for me, is a clear break and hold below $2290. If we start closing daily candles under that, then the path of least resistance would likely shift to further downside, maybe testing the $2270 area next. Just my two cents looking at the charts.
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That's a really interesting take on the current gold price. I've been struggling to see a clear direction, but framing $2300 as a potential floor makes a lot of sense. What do you think would be the main catalysts for that bounce you mentioned?