Current price: 2390
Key point: 2387
Our preferred direction: Buy positions above 2387 levels with 2430 as a first target and then 2440 as a second target.
Alternative scenario: Stop loss and change the trend by breaking the 2387 level, targeting the 2350 levels.
Technical commentary
Gold rose during last week's trading from the support levels 2348-2353 and from the 200 moving average on the four-hour frame.
If it is broken and the highest resistance levels 2388-2393 remain stable, gold will head to the next resistance levels at the 2430 area.
