Technical analysis by Pampam-m about Symbol PAXG: Buy recommendation (8/2/2024)

Gold prices dipped slightly during the North American session, fluctuating between $2,430 and $2,462. Currently, gold is in a strong uptrend, clearly illustrated on the chart with consecutive higher highs and higher lows. The price is above both EMA lines, indicating that the uptrend is being sustained. Gold is moving within a clear ascending channel, with support and resistance levels marked by black lines. Gold prices are likely to continue rising in the near future, with the chart showing a potential scenario of a slight dip to the support level around 2460 before bouncing back and continuing the upward trend.Trade active