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XAUUSD - Not quite sold on the breakout yet
Watching XAUUSD after the recent push. It's holding above 2300, which is good, but I'm not convinced we're out of the woods for a retest of lower levels. The volume on this last leg up wasn't exactly inspiring, and the broader macro picture with $UST at 41.07 still feels a bit wobbly for a sustained gold rally. A close back under 2280 would invalidate this current bounce for me and put 2250 back in play.
2 comments · 8 points
That's an interesting point about the volume not being inspiring. I hadn't looked at it from that angle before. Do you think a strong push above 2350 with good volume would be enough to change your mind, or are there other factors you'd be looking for?