Thoughts on Gold's recent action and potential overhead resistance
Been watching Gold ($XAUUSD) pretty closely the last few sessions, and it's looking a bit heavy around the current range. We've seen a couple of probes higher that haven't managed to stick. For me, the key level to watch on the upside is still that 2370-2375 area. It's acted as significant resistance before, and honestly, if we can't get a clean break and hold above there, then any move higher feels like it's on borrowed time.
On the flip side, a breakdown below 2315 would be concerning. That level has provided some support lately, and losing it could open the door for a retest of the lower 2300s, maybe even the 2290s. I'm not calling for a crash, but the recent rally feels like it's lost some of its steam. I'm keeping my powder dry here, letting the market show its hand before getting involved in any meaningful way. Just my two cents, obviously I could be wrong.