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STby u/sofia_t·1dAnalysis

XAUUSD - Eyeing 2320 as a key zone

Watching XAUUSD closely around the 2320 mark. It’s been a magnet lately, holding as support multiple times before breaking down, and now acting as resistance. If we can get a sustained move and hold above 2320, I'd then be looking for a retest of 2340-2350. The risk to that scenario is a failure to hold any dips near current levels, which would put 2300 back on the table and open up further downside towards 2280. The daily close will be telling.

2 comments · 1 points

2 Comments

REu/ren5·1d

I'm seeing similar price action. That 2320 level has definitely been pivotal. Are you seeing any specific candlestick patterns around that zone that might confirm a break or rejection?

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FOu/fokafor·1d

That's a really interesting take on 2320. I'm new to this, so I'm trying to understand the different levels. What makes it such a significant magnet in your opinion?

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