Current price: 1937
Key point: 1900
Our preferred direction: buying positions above the 1900 levels, targeting 1960 as the first target, then 1980 as the second target.
Alternative scenario: Stop loss and change the trend by breaking the 1900 level while targeting the 1850 levels
Technical commentary
Gold rose on the four-hour frame from the support levels 1887-1900, with the presence of the harmonic ALT BAT pattern with a 113% Fibonacci retracement rate, and with the price penetrating the descending trend line from last month’s peak, it will be expected to complete the rise to the 1930 levels and then the 1950 levels at the upper border of the price channel. downlink
