From a technical perspective, last Friday's breakout of the $2,470-$2,472 level and subsequent strength above the previous all-time high of $2.483.70 are seen as new triggers for bullish traders. Additionally, oscillators on the daily chart remain in positive territory and have not yet entered overbought territory, suggesting that gold has minimal resistance to the upside. Nonetheless, bulls will need to proceed with caution if gold fails to maintain its upward momentum beyond the psychological $2,500 level. Therefore, it would be prudent to wait for some follow-through buying after Friday's allowed time peak (near $2,509-$2,510) before advancing further to $2,514.50 (123.6% Fibonacci bounce level from 2483.70 to 2353.20) . If gold manages to convert this level into support, then $2,548.90 (150.0% Fibonacci bounce level) will be the next bullish target. A breakout would point to the $2,600.00 level {upper track of the ascending channel}. Additionally, a breakout of resistance at $2,489.00 {the upper line of the daily sideways channel} now appears to protect the near-term downtrend. Today you can consider going long before 2,500.00, stop loss: 2,496.00; target: 2,520.00; 2,525.00