Current price: 2305
Key point: 2287
Our preferred direction: Buy positions above 2287 levels with 2350 as a first target and then 2363 as a second target.
Alternative scenario: Stop loss and change the trend by breaking the 2287 level, targeting the 2266 levels.
Technical commentary
Gold is still moving in an upward direction on the 4-hour frame, and with the price above the 200 moving average and the highest support levels of 2288, gold will be expected to rise in the event of a breakout of the falling wedge upwards to the levels of 2350-2363.
In the event of a break and close below the 2288 levels, gold will head towards the 2222 levels.
