The daily chart shows that gold is trading near the central axis of the horizontal channel at $2,426, with a slight increase, but in the past month or so, it has generally been moving sideways in the range of $2,368 - 2,487. Currently, gold is close to the 50-day exponential moving average of $2,371.40, which continues to provide support for gold bulls. In terms of technical indicators, the 14-day relative strength index (RSI) oscillates in the range of 55.00-60.00, indicating that market participants are hesitant. If gold breaks through the resistance area of ​​$2,450.00 (May 20 high) and $2,452.90 (76.4% Fibonacci rebound level from 2,483.70 to 2,353.20) this week, there will be new upside space, which will allow it to advance to $2,477.70 (August 2 high) and the previous historical high of $2,483.70. On the downside, the first consideration is $2,418.40 (50.0% Fibonacci rebound level), while the psychological barrier of $2,400 will continue to provide support for gold bulls. Once it breaks, it will test $2,390.70 (34-day moving average) and $2,379.00 (last Wednesday's low). Today, you can consider going long on gold before $2,426.00, with a stop loss at $2,423.00 and targets at $2,446.00 and $2,450.00.