Gold broke the bearish inside bar Friday having triggered corrective downswing. Development potential of this correction is PPZ 1750.00-1755.34, where a sufficient demand for the asset might be faced again (black trajectory).
Within the local structure we also observe tangible bearish momentum that will facilitate a break of the support zone 1769.27-1769.70 and renewal of the lows with potential of further decline to 1750.00. Hold-up of decline at the support zone 1769.27-1769.70 could be an alternative for this scenario.
Main scenario: Decline in direction 1750.00.
Alternative scenario: Touch of 1769.27-1769.70 followed by a pullback to 1780.00-1781.25 and after that decline will resume.
Shorts in direction 1750.00.
Pending longs from 1750.00.
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