$XAU : Poised for a Breakout or a Pullback? 🟡
The rally has been impressive, but what’s next for $XAU ? The setup is getting critical.
Key Drivers:
· The Fed & Dollar: The #1 factor. Any shift toward rate cuts will be rocket fuel. Sticky inflation = more consolidation.
· Geopolitical Hedge: Still a major bid. Uncertainty = safe-haven demand.
· Technical Check: Facing major resistance near $2,400 - $2,450. Holding above $2,300 is bullish. A break above the all-time high could trigger a chase.
My Watch:
· Bullish Case: Clear break & close above $2,450** → next target **$2,500+.
· Caution: Failure to break higher, with a drop back below $2,280, could see a deeper pullback toward $2,200 support.
Bottom Line: It’s a momentum game now. The trend is up, but the next big move hinges on macro data and the $USD. Watch the key levels.
What’s your take? Breakout or correction first?