The gold price reversal has successfully propelled the price upwards from 2302, continuing its ascent towards 2337 and 2342.
Current Outlook: The price is expected to consolidate between 2320 and 2342 until a breakout occurs. The initial movement is anticipated to target 2337.
Bullish Scenario: For an uptrend to initiate, the price must remain stable above 2328 and 2320, potentially advancing towards 2337. Stability above 2342 would further support a bullish push, with potential fluctuations between 2342 and 2357.
Bearish Scenario: A drop in price and stabilization below 2320, confirmed by the close of a 4-hour candle, would indicate a downtrend towards 2302 and 2292.
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