Current price: 2482
Key point: 2475
Our preferred direction: Buy positions above 2475 levels with 2500 as a first target and then 2530 as a second target.
Alternative scenario: Stop loss and change the trend by breaking the 2475 level, targeting the 2450 levels.
Technical commentary
Gold is moving in an upward direction on the four-hour frame from the bottom of last month and is currently stable above the support levels of 2475, so it is expected to continue rising to reach the levels of 2500 and then the levels of 2530.
