STRATEGY:

Main Scenario: As long as Gold  stays below 1791,  the main trend will be still downwards. Then the precious metal may down to 1757 price level

Target Expectation: 1757

Considerations Supporting The Scenario: 

Last week, gold posted its worst weekly performance since March 2020 after the U.S. Federal Reserve signalled a sooner-than-expected tightening in its monetary policy.

Alternative Scenario: An alternative expectation may be taken into account in case of a close above 1791

Alternative Target Expectation: 1826