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Current price: 4086
Key point: 4098
Our preferred strategy: Sell positions below 4098, targeting 4020 as the first target and then 3950 as the second target.
Alternative scenario: Stop loss and trend reversal upon breaking the 4115 level, targeting the 4165 level.
Technical commentary
Gold remains in a strong downtrend, below descending trend lines and below the resistance level of 498, with the price expected to continue falling to levels of 4020 and then 3950.
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