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NAby u/nour.arslan·8dAnalysis

Gold Holding $1980, Watching the Range

Been watching XAUUSD pretty closely the past few sessions. We seem to be holding the $1980 level with some decent support, which isn't entirely unexpected given the prior price action around that area. The more interesting development for me is the increasingly tight range that's developing. We've got pretty clear resistance forming around the $2000-2005 zone. If we get a sustained break and close above $2005, then I'd have to reconsider the current consolidative thesis, as that would suggest a re-test of higher highs is likely. Conversely, a decisive close below $1980 would indicate this support is breaking down and could open the door for a move towards the $1960 area, which has also been a battleground recently. Right now, it feels like a waiting game within these boundaries.

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