Gold met the target of 4235 and price action looks to be building a Rising Wedge formation, which is considered to be a challenge for the uptrend wave.
So far, the market is showing the chance for a trading zone between 4200 and 4245-50.
Above 4250, this could lead to a break towards 4285 and higher.
Below 4200, this could mean a correction with support at 4145-65 pushing for another rebound.
Below 4145, more of a drop will be expected with support at 4090.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 4200 | 4245-50 |
| LEVEL2 | 4145-65 | 4285 |
| LEVEL3 | 4090 | 4305 |
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