Technical analysis by IAm_Ryder about Symbol PAXG: Buy recommendation (6/11/2024)

Dear traders! Gold is falling exactly as Ryder expected last week after not being able to overcome the resistance level of 2,300 USD as expected. From a personal perspective, Ryder is still optimistic about supporting the 2277 USD area (coinciding with the time of testing BB's support level from a technical perspective from TradingView). If this level breaks, the precious metal price could be pushed down to $2,220 while a hold would result in a recovery back targeting the BB band resistance cap at $2,335. This week the market is interested in some notable information such as the consumer price index (CPI) in May, announcements on monetary policy of the US Federal Reserve (Fed), and data on unemployment benefits. American industry and the monetary policy of the Bank of Japan.Comment: 2305Trade activeComment:Trade closed: target reached