Gold rose today, Thursday, targeting the 1970 region after the release of negative economic data for the US dollar, as gold was a component of the (DOUBLE BOTTOM) model at the 1940 region, which reinforces expectations that the Federal Reserve (the US Central Bank) will temporarily stop the cycle of raising interest rates currently, gold is at the 1964 region in the event Consistency above the logic of 1975, we will see the regions of 1986/1991/2000, but in the case of steadfastness under the 1938 region, we will see the regions of 1900/1909/1923
It can also be noted that gold forms a triangle pattern and the movement within this model is narrow. We should wait for the pattern to be broken and determine the direction of the new gold in terms of (upside or downside).