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Gold (XAUUSD) holding key support, watching 2300
Been watching XAUUSD closely this week. It feels like the market is still trying to decide if we're going to see a sustained push higher or a deeper pullback. What's caught my eye is the way it's been reacting around the $2300 level. We saw a couple of tests there, and while it's held so far, I'm thinking a decisive break below $2290 could open the door for a move down towards $2250. On the flip side, if we can find some sustained momentum above $2320, then the $2350-2360 resistance zone becomes the next battleground. For now, it just feels like accumulation within a range. My conviction would be shaken if we saw a significant close below that $2290 level; that would suggest the sellers are starting to gain control.
1 comments · 1 points
Holding 2300 is one thing, but the daily close below it is what matters for conviction. We've seen these wicks before.