This week's gold price is still moving in a narrow range and looks like a flag pattern. And if the prices break the trend line pattern, there is a target that could reach the price of 1828. The current price is acceptable in a bearish trade. It's not too risky. And may take profit when the price hits the lower band.
The price begins to climb below the trendline, and at 21:00 UTC on February 1, 2023, there may be a rate hike by the Fed. Therefore, you should reduce your buying position and start selling instead. These data are only rough estimates that must be analyzed according to the situation. But if the price stays above the range this week, it may continue to go sideways...
The price runs within the channel frame clearly. Looks like it's going up. If the price cannot break the trend line.
On Timeframe 8h, there are signs of reversal pattern and support with triple divergence.