Current price: 2500
Key point: 2483
Our preferred direction: Buy positions above 2483 levels with 2510 as a first target and then 2525 as a second target.
Alternative scenario: Stop loss and change the trend by breaking the 2483 level, targeting the 2460 levels.
Technical commentary
Gold is moving in a strong upward trend on the 4-hour frame, breaking through an upward triangle while remaining above the resistance levels of 2475-2485, and is expected to rise further towards the 2510 levels and then the 2525 levels.
