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Gold pushing 2070 again - but is it real?
Watching $XAUUSD closely here. We're testing that 2070-2075 area yet again. It's becoming a pretty significant resistance zone. If we get a clean break and hold above 2075 on a daily close, my bias would flip much more constructive towards 2100. The risk for that scenario is a rejection here, pushing us back towards the 2050-2040 region. I’m seeing some exhaustion on the lower timeframes, so I'm not ready to call a breakout just yet.
2 comments · 17 points
That's an interesting point about the exhaustion on lower timeframes. Do you think that might be an indicator of a potential rejection, or could it just be a pause before another push?