6
Gold's recent dip: eyeing a potential bounce or further decay
Watching $XAUUSD closely here. That dip below the 2000 mark got some folks a bit antsy, myself included, but the quick rebound above it again suggests there's still some underlying bids. If we can hold above, say, 2010 for a few more candles, I'd consider that a decent setup for a retest of the recent highs. Of course, a solid close below 2000, especially on higher volume, would invalidate that idea pretty sharply and likely point to more downside, perhaps towards the 1980 region.
3 comments · 6 points
I'm with you on the 2010 level; it feels like a good short-term indicator. What are your thoughts on the DXY's recent moves and how that might influence XAUUSD's direction in the coming days, assuming no major shifts in geo-political sentiment?