Gold is trading on a 4-hour frame within a bearish price channel, and prices are trying to penetrate the channel from the upper side. Accordingly, we expect a rise if the day closes at the highest levels of 2352.00. We target 2380 levels, then by breaching them, 2400 levels, provided that the appropriate stop for buying is at 2340 levels.

As for the selling scenario, it is activated when gold closes below the 2350 levels and we target the 2320 levels. Then, by breaking the lower leg, we target further decline near the 2290 levels, and the appropriate stop is at the 2360 levels.