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BLby u/blee·2dAnalysis

Thoughts on Gold's Resistance at $2070-2080

I've been watching XAUUSD pretty closely lately, and it seems like the $2070-2080 area is proving to be a pretty stubborn ceiling. We've tapped it a few times now without a convincing break above. For me, any sustained close above $2080, perhaps on a weekly chart, would invalidate the current range-bound scenario and suggest a retest of the all-time highs. Until then, I'm expecting some kind of pullback or consolidation within this larger range, potentially down towards $2000 again.

2 comments · 1 points

2 Comments

CIu/citra39·2d

I'm with you on the $2080 level being key. The market seems to be lacking the conviction for a sustained move past it right now, which suggests we could see further consolidation or a pullback before any real breakout attempt.

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DWu/david_w·1d

Agree, that $2080 level is clearly significant. The real question is whether the current market conditions have enough underlying strength to push through it convincingly, or if it's just going to be another rejection leading to a deeper correction.

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