Current price: 2344
Key point: 2330
Our preferred direction: Sell positions below 2330 levels with 2300 as a first target and then 2285 as a second target.
Alternative scenario: Stop loss and change the trend by breaking the 2330 level, targeting the 2400 levels.
Technical commentary
Gold fell from the harmonic pattern shown and closed below the 200 moving average. If it closes below the support level of 2330, gold will head towards the 2290 levels.
In the event of an increase and stability above the 2354 levels, gold will head towards the 2400 levels.
