Technical analysis by Doolz-Lebanese about Symbol PAXG: Buy recommendation (2/27/2024)

Hello :)Based on my analysis Gold price retreats after reaching 50-day Simple Moving Average , mixed sentiment prevails• Gold price pulled back after reaching the 50-day Simple Moving Average (SMA) at $2,033.67 during the European session, currently down by 0.40% due to a decline in the value of the US Dollar (USD).• The drop in gold prices is also attributed to an increase in the US 10-year Treasury yield and reduced expectations of a dovish stance from the US Federal Reserve (Fed).• Although sentiment remains mixed, there is a slight negative bias favoring the US Dollar, with speculators pricing out the possibility of a rate cut by the Fed in March and May.• Gold price continues in an uptrend according to the H1 Frame, with potential resistance areas to watch for in the rising wave.Long term trade:Buy @ 2042 TP 1: 2046TP 2: 2056TP 3: 2060SL : 2030