Technical analysis by GoldvieWw about Symbol PAXG: Buy recommendation (7/11/2024)

Hello everyone! Please observe on the H4 chart. We see gold, which quickly broke short-term resistance following Friday's supportive NFP news, and reached 2393. But, at the opening of the session a change in sentiment among Chinese gold buyers pulled Gold has returned to the bullish trendline and is being actively maintained by bulls on the growth wave. Along with that is a great support combo around the middle of the resistance and trendline that is likely to continue to provide strong support for long-term buyers. Therefore, we can watch the downward movement with the aim of retesting the 34.89 EMA levels and then catching the bounce, 2355 would be a safe point to enter. Gold is expected to target 2425 for a major strike. And you? Do you expect a surge in gold prices? What is your goal... Sincerely!Trade activeTrade activeTrade closed: target reached