Technical analysis by SelenaBellaa about Symbol PAXG: Buy recommendation (7/19/2024)

Dear traders! Across all time frames gold is showing significant gains after the price broke through all-time high resistance at $2,449. Therefore, the outlook for gold is relatively positive, especially when the market predicts a 98% chance that the US will pivot its monetary policy in September. In particular, the attractiveness of gold bars often increases when interest rates lower. In addition, demand from Western markets, geopolitical risks and potential recession could push gold prices to 2,600-2,700 USD/ounce in the second half of this year. From the technical analysis chart, after breaking the triangle pattern, the gold price increased sharply and is currently showing signs of correction to a good supply zone on the H4 frame which is now also a resistance zone. strong before. For today's trading, we will prioritize BUY because the main trend is still up and trend trading is always an effective and safe way to trade.Comment: Hey dear traders! What do you think about GOLD?Comment: XAUUSD BUY zone 2417-2415 SL 2411 TP 2420- 2430Comment: Hit sl plan guysTrade active