Watching $XAUUSD around 2300, a bit of a sticky wicket
Been keeping an eye on Gold ($XAUUSD) lately, and it's starting to feel like we're approaching a decision point around the 2300 level. It's been pretty resilient, shrugging off some hawkish Fed speak that would typically send it lower, which is interesting in itself. On the daily, we've got some consolidation happening just above what I'd consider a key support zone, roughly 2280-2300.
My take is that a sustained break below 2280, especially if it coincides with dollar strength, would invalidate the current sideways chop and suggest a deeper correction. We've seen it flirt with that level a few times, but the buyers seem to step in. Conversely, a clean break and hold above 2315 could signal a retest of recent highs. Not putting all my eggs in one basket, but I'm certainly not making any aggressive moves here until we get more clarity. It's a tricky market right now, plenty of crosscurrents. Anyone else seeing something similar, or am I just staring at charts for too long?