Technical analysis by FATHX about Symbol PAXG: Buy recommendation (8/7/2024)

In this analysis of XAUUSD on the daily chart, we observe that the price is currently testing an ascending trendline support. Key pivot levels for the month are highlighted, with the DM Monthly P (2,433.414) acting as resistance and DM Monthly S1 (2,383.087) as support. A potential bullish scenario is outlined with a target around DM Monthly R1 (2,548.222). Monitor price action closely as it approaches these significant levels.