Technical analysis by winner-2008 about Symbol PAXG: Buy recommendation (3/8/2024)

Gold is heading towards $2,200 Yesterday, I predicted that gold would rise to around US$2,170. After trading sideways, gold finally rose to US$2,170, but it did not continue to break upward. It was not until the US non-farm payrolls data was released that the price surged again, with the highest point reaching around US$2,185. The latest non-agricultural data has been released. Judging from the latest published value VS the previous value, there are 20 bullish indicators for gold, 17 negative indicators, and 5 neutral indicators. Overall, it is good for the rise In addition, from a technical perspective, the one-hour candle chart shows that the 20-day moving average and the 50-day moving average are still stretching upward in parallel, and the bullish pattern is still intact, so gold will continue to be bullish. The specific trading strategy is to wait for the price to fall back to the support level to go long, focusing on the resistance range of 2163-2170 US dollars. When the price falls back to this range, long positions can be established.