Pivot point: 1800
The expected scenario: Entering short deals at the lowest levels of 1800 dollars, targeting the 1770 levels.
Alternative scenario: Entering long positions at the highest levels of 1800 dollars, targeting the levels of 1833 dollars.
Commentary: Gold is still coherent below the $1800 levels, after breaking the descending price channel, and none of the buying or selling power dominates the trades at the present time, to take Gold is sideways trading since the beginning of this week’s trading, and due to the price’s failure to breach the $1800 resistance, the negative outlook remains, especially in light of the price being below the moving averages (50-100), in addition to a negative deviation in the liquidity flow index, which supports the outlook Short term downtrend.
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