Gold heading for targets 2240 and 2268 or down to 2147 and 2123

According to price action the bearish continuation is not confirmed yet. Also on daily market structure we created a higher low and therefore the bull continuation is also a high probability scenario to expect.

Bull scenario

If we continue the bull run then we meet resistance at 2170, 2177, 2185, 2195 and 2222 to continue higher towards 2240 and 2268.

Bearish scenario

If we maintain the downfall we can expect the levels of 2157-2147, 2123-2116 and 2080-2050.