Current price: 2670
Key point: 2645
Our preferred direction: Buy positions above 2645 levels with 2685 as a first target and then 2700 as a second target.
Alternative scenario: Stop loss and change the trend by breaking the 2645 level, targeting the 2600 levels.
Technical commentary
Gold was able to rise from the support levels on the four-hour frame from the bottom of the current month at levels of 2530-2550, breaking through important resistance levels at 2645 and breaking through a downtrend line from the top of last October.
It is expected that gold will continue to rise to levels of 2685 and then levels of 2700.
