1
NAby u/naledi38·1dAnalysis

Thoughts on Gold's Resistance at $2350

Been watching $XAUUSD closely these past few days and it's clear the $2350 level is proving to be a pretty stubborn ceiling. We saw a solid push towards it, but the follow-through just hasn't materialized yet. It's not a hard rejection, more of a hesitant pause, which makes it a bit tricky to read.

From a technical perspective, if we can decisively clear and hold above $2350, especially on a daily close, I'd view that as a significant bullish signal, potentially opening the door for a test of the all-time highs. However, the risk to that scenario, in my humble opinion, is a failure to hold current levels and a drop back below the $2300 psychological support. A sustained move under $2300 could indicate that the recent rally is losing steam and invite more sellers. Just my two cents, always manage your own risk.

3 comments · 1 points

3 Comments

DMu/diaz_manuela·1d

The $2350 level is indeed proving to be a tough nut to crack. I'm wondering if a retest of lower support levels is more likely before a sustained breakout, given the lack of immediate follow-through.

1
KKu/kavya_k·1d

Ah, the classic 'not a rejection, just a very long coffee break' scenario. It's almost like gold enjoys watching us squirm while it decides whether to moon or resume its nap.

1
MNu/marek_n·1d

Yeah, I've noticed that too. It's almost like there's a collective breath being held at that level. What do you think would be the key catalyst to push it over, or are we just waiting for more momentum?

1

More like this