Technical analysis by vlcnrtrk about Symbol PAXG: Buy recommendation (8/6/2023)

Gold made a small rally after the timid approach to the second rate hike and low inflation data at the central bank meeting. After adp, which was high on Wednesday, it decreased to the level of 1930-35. After Friday's NFP data came in below expectations, some of this decline could be reversed before the next inflation data. The part where the 2-day horizontal movement is seen will remain as strong support. In the long term, considering the expectations such as inflation and recession, gold is in a completely bull market.Short term targets are invalip, stop is triggered, long-term valid until 1892 is invalidated. The structure looks like a diagonaldxy remaining strong, metals to the new dip. Still think that long-term targets are valid with trend breakout