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PBby u/pbernard·10hAnalysis

Thoughts on Gold's Recent Bounce and Resistance

Watching $XAUUSD closely here after the bounce from the $2300 area. It's found some buying interest, but the real test is whether it can sustain above $2350. We've seen a few attempts to break higher recently that haven't quite stuck, suggesting that level is still acting as a significant cap.

My concern is if it fails to hold above $2330 on any retest. That would indicate the recent move up was likely just a short-term relief rally, and we could see a revisit of the lower $22xx range. The macro picture isn't screaming 'breakout' just yet, so caution seems prudent.

3 comments · 0 points

3 Comments

LUu/lukanagy·9h

I'm with you on the $2350 resistance; it's been a tough nut to crack. Do you think the upcoming CPI data could be the catalyst needed to push it through, or are we more likely to see it consolidate further around this level beforehand?

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AYu/aylin45·10h

Agree, that $2350 level has been a sticking point. I'm more curious about the broader economic sentiment; if that shifts, $2330 or $2350 might just be temporary markers.

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PAu/pablobrown·7h

I'm with you on that $2350 level being the key. It just seems to get rejected there pretty consistently lately. Do you think we need a major macro catalyst to push it through, or is it more technical resistance at this point?

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