#XAUT Update: Gold Testing the Bottom of Its Range ๐ช
Gold has been moving sideways between 4,100 and 4,300 after a sharp drop from the 4,300+ area. XAUT tracks 1 oz of gold, so it follows this closely.
๐ Key levels
๐ด Resistance: 4,300
๐ก Recovery trigger: 4,220
๐ต Support: 4,100
โช Now: ~4,127, close to support
๐ฏ Scenarios
โ Close above 4,220 โ possible move toward ~4,320
โ Close below 4,100 โ risk of a drop toward ~4,000
โ ๏ธ Price is near the floor of the range, so a bounce or a breakdown is possible. Wait for a candle close, not just a wick. Watch the USD, Treasury yields and Fed news.
What's your bias, bounce or breakdown? ๐
#XAUT #TetherGold #GOLD #XAUUSD #Binance
Gold has been moving sideways between 4,100 and 4,300 after a sharp drop from the 4,300+ area. XAUT tracks 1 oz of gold, so it follows this closely.
๐ Key levels
๐ด Resistance: 4,300
๐ก Recovery trigger: 4,220
๐ต Support: 4,100
โช Now: ~4,127, close to support
๐ฏ Scenarios
โ Close above 4,220 โ possible move toward ~4,320
โ Close below 4,100 โ risk of a drop toward ~4,000
โ ๏ธ Price is near the floor of the range, so a bounce or a breakdown is possible. Wait for a candle close, not just a wick. Watch the USD, Treasury yields and Fed news.
What's your bias, bounce or breakdown? ๐
#XAUT #TetherGold #GOLD #XAUUSD #Binance
