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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.
1 comments · 13 points
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.