Current price: 2296
Key point: 2288
Our preferred direction: Buy positions above 2288 levels with 2317 as the first target and then 2330 as the second target.
Alternative scenario: Stop loss and change the trend by breaking the 2288 level, targeting the 2250 levels.
Technical commentary
After the strong decline of the yellow metal during the end of last week's trading following the strong US labor market data, the price reached the pivotal support levels 2277-2287, and it is expected that the price will rise to the levels of 2317-2330 in the event of the formation of appropriate price behavior.
In the event of a break and stability below the support levels of 2275, gold will head towards the levels of 2250.
