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STby u/smoke_tester·4dAnalysis

XAUUSD approaching a familiar zone, concerns about current momentum

Watching XAUUSD closely here. We're back up testing that ~$2350-2360 zone, which has proven to be a pretty sticky area in the past few weeks. While the bounce off the lows has been decent, the momentum seems to be tapering off somewhat. If we can't get a convincing daily close above $2365, I'd be looking for a potential retest of $2320, possibly even $2300, before another attempt higher. A break below $2280 would invalidate the recent bullish structure for me.

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