Technical analysis by Sphyn-Trader about Symbol PAXG: Buy recommendation (10/17/2023)

XAUUSD: Uptrend supports gold price Hello trader, I'm back with my best analysis. Let's trade with me ❤️ ① Currently, gold prices are still rising at a high level, forming a "small triangle" chart pattern in the short term. The market could start a new short-term trend tonight. ② Since Powell will speak on Friday, If in this case: Plan A. If gold prices strongly break out of the "small triangle", it means that the market will "pre-digest" Powell's speech. Plan B. If the gold price is still very modest swing. That shows that the market still has to wait for Powell to speak.