XAUUSD - Not quite the golden breakout yet, is it?
Been watching $XAUUSD with a hawk's eye, and while the sentiment feels bullish across the board, that 2075-2080 level is proving to be a stubborn brick wall. We’ve bumped our head there a few times now, and each rejection, even a small one, adds a bit more credence to it as a resistance zone. My eyes are on whether we can actually get a convincing daily close above 2080 – not just a spike. Without that, I'm thinking we're still ranging, perhaps looking at a retest of the 2030-2040 area. The risk here, for any immediate bullish thesis, is a solid break below 2030. That would invalidate the current higher-low structure we've been building and likely send us looking for support closer to 2000. It's always fun watching gold, the ultimate drama queen of the markets.
It's interesting you mention the 2075-2080 level. Do you think a convincing break above that would signal a strong continuation, or could we still see a retest before a more sustained move upwards?