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Current price: 4414
Key point: 4380
Our preferred strategy: Buy positions above 4380 with a first target of 4450 and then a second target of 4500.
Alternative scenario: Stop loss and trend reversal upon breaking the 4365 level, targeting the 4310 level.
Technical commentary
Gold has finally broken through the historic highs formed last October at 4380 and reached 4415. If it holds above 4380, gold is expected to continue its upward trend to 4450 and then 4500.
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