Current price: 4407
Key point: 4395
Our preferred strategy: Buy positions above 4395 with a first target of 4460 and then a second target of 4510.
Alternative scenario: Stop loss and trend reversal upon breaking the 4365 level, targeting the 4280 level.
Technical commentary
Gold is holding above the 200-period moving average on the four-hour timeframe and above the support level of 4395, so it is expected to resume its upward movement to the 4460 level, and then if it breaks through that level, it will reach the 4510 level.
