Technical analysis by Strifor about Symbol PAXG: Buy recommendation (4/29/2024)

Preferred direction: BUY Comment: After a quiet week in the metals market, the coming week is likely to be very volatile. In addition to the technical accumulation in the triangle format, we have a lot of economic data and events that will happen this week. The most likely scenario №1 will involve a breakout trade at the level of 2340. Scenario №2 assumes a preliminary fall to 2300, but you need to be careful here, since a close below 2300 will most likely generate a downward movement to 2200 and 2150. In the case of a positive outcome, a closure can be expected above the level of 2340, and then enter a long position with a target of 2400, then 2440 and higher. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!Trade active: ⚡️New ideas for AUDUSD, NZDUSD and EURAUD⚡️Trade closed: stop reached: ⚡️New ideas for USDCAD, USDCHF and EURAUD⚡️