Current price: 2209
Key point: 2194
Our preferred direction: Buy positions above 2194 levels with 2225 as the first target and then 2240 as the second target.
Alternative scenario: Stop loss and change the trend by breaking the 2194 level, targeting the 2147 levels.
Technical commentary
Yesterday, gold broke the downtrend line above the support levels of 2147, breaking the historical gold peak at levels of 2194. With a retest and stability above it, it is expected to complete this rise to levels of 2225.
In the event of a break and stability below the 2194 levels, the price will head down to the 2147 levels.
