Gold (H4) is trading near the day's opening level of 2316.00 and below the daily Pivot level of 2321.00. The main indicators are showing bearish signals and the price is below the MA72 trend line, where volume unloading usually occurs. In case the price rises above the level of 2322.00, I expect further growth of the pair towards the level of 2325.00 and possibly 2337.00. If the price drops below the level of 2316.00, then I expect the pair to decline towards the level of 2303.00 and possibly 2300.00. The pair is trading above the monthly Pivot level of 2169.00, below the weekly Pivot level of 2377.00, and below the daily Pivot level of 2321.00, indicating a corrective sentiment for the pair. Above the level of 2321.00, gold will move north, while below the weekly Pivot level of 2377.00, the pair will correct towards the level of 2300.00.
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