Current price: 5080

Key point: 5000
Our preferred strategy: Buy positions above 5000 with a first target of 5200 and then a second target of 5400.

Alternative scenario: Stop loss and trend reversal upon breaking the 4990 level, targeting the 4900 level.


Technical commentary
Gold is holding above the key support level of 5000 and the 200-period moving average on the four-hour timeframe, but the upward trend remains intact. A break above 5140 would target 5200 and then 5350.