Current price: 2168
Key point: 2147
Our preferred direction: Buy positions above 2147 with 2194 as the first target and then 2222 as the second target.
Alternative scenario: Stop loss and change the trend by breaking the 2147 level, targeting the 2123 levels.
Technical commentary
For the second time this year, gold was able to break through its historical peak of 2194 and reached levels of 2222. After the price broke the downtrend line, the price is currently retesting the support levels of 2147, and it is expected to rise again to levels of 2194 and then its peak of 2222.
In the event of a break and stability below the support levels of 2147, the price will head towards the levels of 2123.
