Current price: 4174
Key point: 4200
Our preferred strategy: Sell positions below 4200 with a first target of 4150 and then a second target of 4130.
Alternative scenario: Stop loss and trend reversal upon breaking the 4210 level, targeting the 4225 level.
Technical commentary
Gold is settling below the pivotal resistance level of 4200 and below the downtrend line from last month's peak, with the price expected to continue its decline to the 4150 level, and then, if it breaks below that, it will head towards the 4130 level.
