Pivot point: 1820 .
The expected scenario: entering into buying deals at the highest levels of 1820, targeting the levels of 1845 as an initial price target.
Alternative scenario: entering short deals at the lowest levels of 1820, targeting the levels of 1785 dollars.
Commentary: Gold is still maintaining the general bullish trend, through the ascending price channel, to facilitate transactions this week, on slight declines within the framework of profit taking and short-term correction , to reach the levels of 1820, after ending last week’s trading at the levels of 1833, which is expected to end this corrective wave at those levels and then to complete the upward journey and target the aforementioned levels, especially in light of the presence and cohesion of the price above the moving averages (50 - 100), in addition to a positive deviation in the liquidity flow indicator in the buying direction, which supports the positive outlook for gold trading in the short term.
