Current price: 4088
Key point: 4065
Our preferred strategy: Buy positions above 4065 with a first target of 4115 and then a second target of 4165.
Alternative scenario: Stop loss and trend reversal upon breaking the 4050 level, targeting the 4022 level.
Technical commentary
Gold is holding above the support level of 4022 and also above 4065. If it breaks through the 4100 level, coinciding with the 200-period moving average on the four-hour timeframe and the downtrend line, it will then head towards 4115, and subsequently the main target of 4165.
