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

Gold Potential BUY/Long Analysis Trend Analysis: The current trend for gold is bullish, observed from the consistent higher highs and higher lows on the daily chart. Price Action: Recent price action shows bullish candlestick patterns near key support levels, indicating strong buying interest. Support and Resistance: - Support Level: 2367 (set as Stop-Loss) - Resistance Level: 2387.3 (set as Target Profit) Summary - Current Trend:Bullish - Entry Point: Near current market price, given bullish trend and price action. - Stop-Loss (SL): 2367 - Target Profit (TP): 2387.3 Given the strong upward trend and supportive price action near 2367, this provides a good potential for a BUY/long position with the SL at 2367 and TP at 2387.3.