STRATEGY:

Main Scenario: As long as Gold  stays above 1841  the main trend will be still upwards. Then the precious metal may up to 1877 price level

Target Expectation: 1877

Considerations Supporting The Scenario: 

Gold prices traded in a tight range on Wednesday as chances that the Federal Reserve may hint at an early tapering of its bond-buying program set a cautious market tone.

Alternative Scenario: An alternative expectation may be taken into account in case of a close below 1841

Alternative Target Expectation: 1791