1
DSby u/daniel.smith·2hAnalysis

XAUUSD - Thoughts on the 2300 level

Been watching XAUUSD pretty closely the last few sessions, and that 2300 level is proving to be a real sticky wicket. It's acted as pretty significant support on previous pullbacks, and frankly, I'm leaning towards seeing if it holds again. On the daily, we're putting in some decent wicks below it, suggesting buyers are still present, albeit not in a rush. The counter-argument, of course, is that each retest weakens the level. If we get a sustained break and close below 2290-2285, especially on higher volume, then my bias would flip, and I'd be looking for a potential move down towards 2250, maybe even 2230. For now, it's a waiting game, but that 2300 area is definitely the line in the sand for me.

0 comments · 1 points

0 Comments

No comments yet. Be the first.

More like this