Technical analysis by SalemSignals about Symbol PAXG: Buy recommendation (7/20/2024)

We are still in an upward trend on the larger chart, and the reversal occurred due to overbought over the past period and not for reasons of fundamental analysis, as hopes are still pinned on the US Federal Reserve’s interest rate reduction. Technically, according to the chart in front of you, the price’s return to these areas is very excellent for gold to return to the rise with appropriate liquidity. The point we are focusing on here is 2395, which is a strong support area that the price was able to reach accurately, as we expected before, but the return will be somewhat slow to the 2432 areas, and then the trend will become clear. According to liquidity and economic news for the coming week