FX.co ★ king.zelda | XAU/USD, GOLD

Gold is currently in a phase of minor consolidation, with its movement being limited by a narrow ascending channel within which the price is moving. The further direction of the movement will depend on which way it breaks out of the range. Resistance can be noted at the level of 2363, a breakout above it will push the price towards (2416), buying on the breakout will be a good entry point. On a breakout below the support at 2314, one can also open a sell position with the nearest target at (2270).