Pivot point: 1778.00
Preferred scenario: Long positions above 1778.00, targeting 1876.00 levels
Alternative scenario: stop loss and change direction by breaking the level of 1765.00 with targeting levels of 1668.00
Comment
Gold is moving in an upward direction on the daily frame from the trend line from the bottom of May 2019 before entering a corrective downward trend from last August's high from 2070.00 levels
The price was close to the important support levels at 1778.00-1765.00, which were previously rejected last November, more than 1800 points
It is expected that prices will rise from these levels to witness the level of 1876.00 and then the levels of 1950.00
