Current price: 4520
Key point: 4500
Our preferred strategy: Buy positions above 4500 with a first target of 4560 and then a second target of 4600.
Alternative scenario: Stop loss and trend reversal upon breaking the 4490 level, targeting the 4440 level.
Technical commentary
Gold continues its strong rise this week, forming new historical highs, having broken through the 4500 level and reached 4530.
By holding above the 4440-4500 levels, gold will continue its rise to the 4560 level and then the 4600 level.
