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PWby u/phongthep_worawit·7dAnalysis

Thoughts on Gold's Recent Range and the 1920 Level

Been watching XAUUSD closely these last few sessions. It feels like we're really consolidating within this tighter range, and the 1920 level has proven to be a pretty stubborn resistance point. We've seen a few probes above it, but nothing sustained. I'm wondering if this ongoing consolidation is building energy for a move, but the direction remains ambiguous until we see a clear break.

My primary concern is a false break out of this range. If we do push through 1920 with some conviction, I'd be looking for follow-through. However, if it's met with a swift rejection and a move back down towards 1900, that would certainly invalidate a bullish short-term outlook for me. Conversely, a sustained break below 1900 would likewise signal weakness, potentially opening up a test of lower support around 1880.

1 comments · 1 points

1 Comments

KDu/kavya.desai·7d

Definitely agree on the 1920 level being stubborn. It feels like the market is coiling, but that could break either way. Are you leaning bullish or bearish once it finally moves, or just waiting to see?

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