Pivot point: 1780
The expected scenario: entering into buying deals at the highest levels of 1780, targeting the levels of 1820.
Alternative scenario: Entering short deals below the 1780 levels, targeting the 1725 levels.
Commentary: The yellow metal witnessed high volatility during last week's trading, as it recorded its highest levels in nearly a month at the levels of 1799 dollars, and then took a downward trend. In the context of a short-term correction wave, to begin this week’s trading at the 1770 levels, which represent support levels and strong demand areas, so we are expected to witness an upward rebound wave and a return to rise during the current week’s trading, targeting the previously mentioned levels above, especially in light of The presence of the liquidity flow indicator at oversold levels.
