Gold - Weekly Outlook at 2,035 Level
Gold, or XAUUSD depending on which ticker you go by is playing around an interesting weekly level.
Depending on how price reacts around the 2,035 level for the week ahead, this will be very interesting to observe for the week ahead.
- The 2,035 level has been touched four times since 2020.
- August 2020: first touch and then sold off
- July 2022: second touch and then had a stronger selloff
- January 2023: third touch and then followed by a weaker selloff
- November 2023: fourth touch and no selloff reaction
Depending on how price reacts around the 2,035 level for the week ahead, this will be very interesting to observe for the week ahead.
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