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XAUUSD - Thoughts on the 2350 region
Been watching XAUUSD pretty closely lately. That 2350 area seems to be a sticky point, acting as a clear resistance in recent sessions after failing to push through on a few attempts. I'm seeing it as a crucial line in the sand; a sustained break above 2350, especially on higher volume, would invalidate my current view of a potential retest of 2320. On the flip side, continued rejections here could easily send us back to the 2320-2315 range, which has shown some support previously. It's a tight spot, but the market's reaction to 2350 will likely dictate the next move.
1 comments · 1 points
I'm with you on 2350 being a key level. The repeated rejections are certainly telling, but the consolidation around there also suggests a lot of underlying interest. Do you think there's enough macro data coming up to provide the catalyst needed for a decisive break either way?