Technical analysis by dytra about Symbol PAXG: Buy recommendation (8/23/2023)

XAUUSD Observations from the price chart reveal a notable breach of the prevailing resistance trendline. Furthermore, the chart showcases the emergence of an elegantly formed cup and handle pattern. Should this upward momentum persist, there is a likelihood of validating this as a reversal signal, paving the way for further upward movement towards the significant resistance level at the 1987.475 price point.