Technical analysis by Daniel_Thompson about Symbol PAXG: Buy recommendation (6/11/2024)
https://sahmeto.com/message/1998090

Daniel_Thompson
Rank: 11974
Analytical Power:
1.5

Likely to rise to resistance 2385 Gold recently reversed up from the pivotal support level 2300 (which stopped the previous waves A, (4) and ii, as can be seen below). The support level 2300 was strengthened by the lower daily Bollinger Band and by the 50% Fibonacci correction of the previous upward impulse from March. Given the clear daily uptrend and the still oversold daily Stochastic, Gold be expected to rise further to the next resistance 2385, top of the previous correction b.
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Signal Type: Buy
Time Frame:
1 hourProfit Target:
$2,370Stop Loss Price
$2,304Price at Publish Time:
$2,309.93