XAUUSD - Watching that 2300 level closely
Been following gold fairly closely the last few weeks. That 2300 level on $XAUUSD is really starting to look like a critical juncture here. We've seen a couple of rejections around there, but the buyers seem to be absorbing fairly well on the pullbacks. It's not a definitive breakout setup just yet, but the higher lows are hard to ignore.
My take is if we can get a sustained break above 2300 with some volume, the next leg could be pretty significant. Conversely, a clear break below the 2270 area, which has provided decent support on a few occasions, would invalidate that bullish consolidation idea for me. At that point, I'd be looking for a retest of 2250, maybe even lower. Just observing the price action and keeping an open mind for now.