Technical analysis by mswhitetrader about Symbol PAXG: Buy recommendation (7/24/2024)

Gold prices (Xau/USD) continued their bullish momentum for the second consecutive day on Wednesday, to reach the highest new weekly level around the region of 2418 dollars during the Asian session. The main driving force for the height of this precious metal comes from two factors: the weak global stock market Federal Reserve. The GDP data for the second quarter in the United States and the US Personal Personal Consumption Index (PCE), scheduled for Thursday and Friday, will be the focus of market attention. Note the price scale: purchase area: 2383-2381 stop loss: 2377 profit 1: 2390 profits 2: 2400 sales zone: 2431-2433 stop loss: 2437 pounds Profit 1: 2420 profits 2: 2410