Gold — the 2300 conundrum for XAUUSD
Watching $XAUUSD closely around the $2300 level. It's been a tough nut to crack on any sustained break above, almost like the market's got a mental block there. I'm seeing a potential for a double top if we reject hard again, but on the flip side, a clean break and hold above 2305-2310 on decent volume could signal a much larger move higher. The risk to my bearish bias on a rejection is obviously a strong sustained push above 2310, which would invalidate the double top scenario and likely bring in more buyers. With $USDCAD trading at 1.40225, the dollar strength isn't exactly helping gold, but it's not hurting it enough to send it tumbling either. The sideways action is getting a bit long in the tooth, feels like something big is brewing, just not sure which way it'll pop.
That 2300 level is definitely proving sticky. Are you factoring in any DXY movements or just focusing on the XAUUSD chart mechanics?