Main Scenario: As long as Gold stays below 1807, the main trend will be downwards. Then the precious metal may down to 1776 price level
Target Expectation: 1776
Considerations Supporting The Scenario:
Gold prices were stuck in a narrow trading range on Wednesday as investors headed into year-end holidays, with a steady improvement in risk appetite countering safe-haven demand fuelled by the rapidly spreading Omicron COVID-19 variant.
Alternative Scenario: An alternative expectation may be taken into account in case of a close above 1807
Alternative Target Expectation: 1807