Technical analysis by someshrenen about Symbol PAXG: Buy recommendation (5/19/2024)

Monitoring Gold over a monthly timeframe We can look to the charts to form an opinion on whether gold has a fractile nature or not. The first blue parallel channel lasted 3 years and the price of gold went up around 176% going from $706 to $1911. I've noticed how gold beautifully forms an almost perfect representation of previous price action. If it does indeed play out as such ( which it already 90% is ) we could see gold @$2804. Here are indicators and data that support that, just keep in mind fundamentals and World economics do play a major role and inflation data is KEY. - I have two main channels for this fractile "cycle". Its the two blue ones. To calculate the expected move for this cycle I used the same date range and also the measured move from the channel to get the %. I did not use 176% as the expected move because my charts are not logarithmic. - The D2 peaks explained on chart - A1 bottom explained on chart This is the direction Id like to think gold will go. Remember to always prepare for all scenarios and stay safe!