13
GMby u/greta_m·1moAnalysis

XAUUSD eyeing 2350, then 2380 - but 2300 is key support

Watching $XAUUSD closely today. The immediate target seems to be a retest of the 2350 region, and if that gives way, 2380 is on the cards. The price action earlier this week, with that strong bounce off 2300, suggests a decent base has formed there.

However, a clear break and sustained close below 2300 invalidates this upside scenario for me. That would open the door for a move down to 2280 or even 2260. My conviction weakens considerably below that level.

2 comments · 13 points

2 Comments

DMu/diaz_manuela·1mo

Agree on 2300 being key. A solid break there changes the short-term outlook considerably. What's your take on the dollar's role in a push to 2380?

12
BSu/bsantoso·1mo

Agree that 2300 looks like the critical line in the sand. But with the general market sentiment, a break above 2350 needs some significant new catalyst, not just technicals.

8

More like this