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Current price: 4722
Key point: 4675
Our preferred strategy: Buy positions above 4675 with a first target of 4830 and then a second target of 4900.
Alternative scenario: Stop loss and trend reversal upon breaking the 4645 level, targeting the 4555 level.
Technical commentary
Gold is holding above the support levels of 4645-4675 and is still in an upward trend. If it breaks through the resistance level of 4735, gold will head towards the levels of 4830 and then the levels of 4900.
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