STRATEGY:

Main Scenario: As long as Gold  stays above 1782,  the main trend will be upwards. Then the precious metal may up to 1799 price level

Target Expectation: 1799

Considerations Supporting The Scenario: 

Gold was poised for a second weekly rise on Friday, drawing support from a softer dollar which offset pressure from higher U.S. bond yields and rising expectations central banks could begin scaling back economic support.

Alternative Scenario: An alternative expectation may be taken into account in case of a close below 1782

Alternative Target Expectation: 1770