with the symbol="FXOPEN:XAUUSD"]FXOPEN:XAUUSD rising triangle forming, the gold spot has adhered to the support line with sharp movements within it, there should be a break out this coming weeks to the upside of about 2050, with the weakening dollar in sight, watch out for the NFP's coming this friday could be a big opportunity ahead, watch out!
with the collapse of SVB bank in America and the downtrend of several other banks, there are warning signs of a DXY collapse and a rally of the gold spot since its a safe haven investment. with the crossing of this SnD area i expect Gold to rally to the 1920- 1923 area in the next coming days. waiting for confirmation.
Based on yesterdays FED rate hike gold has dropped by about $20 and that trend is expected to follow the trend up until the support zone at 1765 . i expect a slight retest to the DBD zone of 1796 - 1789 then a further drop below 1765 beginning the year 2023.
