Gold remains above MA 200 H1

Yesterday, the XAU/USD traded higher and closed the day in the positive territory around the price of 2380. Today, gold traded in a narrow range of 2379-2392, remaining close to yesterday's closing price. On the hourly chart, XAU/USD is still trading above the moving average line MA (200) H1 (2336). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the north direction in trading and while gold remains above MA 200 H1, may be need to look for entry points to buy at the end of the correction.

• Resistances levels are at: 2431, 2500, 2600
• Support levels are at: 2318-24, 2302, 2280

Probably, the main scenario is a continuation of the upward movement to 2431 (Apr 12 high).

The alternative scenario is consolidation below MA 200 H1 followed by a decline to 2250 (Apr 2 low).