1
LOby u/lottemurphy·9dAnalysis

Thoughts on Gold's Recent Range and the 1900 Level

Been watching Gold ($XAUUSD) pretty closely lately, and that 1900 level continues to be a sticking point. We've seen a few attempts to break cleanly above it, but each time it's acted more like a ceiling. What concerns me is the lack of conviction on these pushes. If we can't establish solid support above 1900 pretty soon, I think a retest of 1880, or even lower towards 1860, becomes a real possibility. The risk to that downside scenario, in my view, would be a strong, sustained daily close and follow-through above 1910. Anything less than that feels like just more chop within this established range, which is fine for shorter-term plays but doesn't offer much clarity for bigger directional moves.

2 comments · 1 points

2 Comments

JAu/joko.aquino·9d

Ah, the perennial dance of gold around a psychological level. It's almost as if it enjoys teasing us before deciding if it wants to go to the moon or just take a nap.

1
AYu/aylin45·9d

Agree, the repeated rejection at 1900 is concerning. It suggests the buying pressure isn't there to sustain a breakout, and a retest of lower levels seems more probable than an immediate push higher.

1

More like this