Technical analysis by Samuel_PVSRA about Symbol PAXG: Buy recommendation (5/21/2024)

The long-term trend for gold remains positive, with significant support and potential upside targets around $2500. However, short-term technical signals suggest a possible correction. Placing an SL at $2,370 strikes a balance between protecting your capital and allowing room for market volatility. If you decide to hold the position, prepare for a possible correction before the expected recovery.Using a technical analysis, we can see that the price has already sought the necessary correction and capture of necessary liquidity, now everything indicates an increase, but first the price of gold needs to break the POC zone and price consolidation which is 2431.67 if it breaks this zone and the 2433.161 zone, which is precisely the 61% of Fibo, the high will be reached, if the price reaches 100% or 2449 with volume it can break and reach 2500 easily.And you, what do you think?