Technical analysis by winner-2008 about Symbol PAXG: Buy recommendation (3/7/2024)

Gold continues to be bullish Today, the price of gold broke through yesterday's high of $2,152 and reached its highest point of $2,161, constantly setting new highs. Looking at the one-hour chart, the 20-day moving average and the 50-day moving average are parallel and upward, which is a perfect rising pattern. Barring major news, gold will continue to hit new highs. So the next trading strategy is to establish a long position when the price falls back to the support level. Today we will focus on the $2150-2154 range. If the price falls back to this resistance range, you can open long orders. The expected profit-taking price above is around $2170.