Current price: 4211
Key point: 4180
Our preferred direction: Buy positions above 4180 levels, targeting 4230 as the first target, then 4260 as the second target.
Alternative scenario: Stop loss and change the trend by breaking the 4150 level, targeting the 4100 level.
Technical commentary
The gold express train is not stopping, and gold is, as usual, forming a new historical peak at 4213 levels, breaking yesterday's peak at 4180 levels and above the rising trend line from the bottom of August.
Gold is expected to continue rising with the strength of the upward trend, while maintaining the support levels of 4140-4180. Gold is expected to reach the 4230 levels and then the 4260 levels.
