Technical analysis by traderchamp_ about Symbol PAXG: Buy recommendation (10/28/2024)

On Monday's Asian opening session, we observed a significant opening gap in the XAU/USD market, with the opening price at $2732 and the closing price on Friday near $2747. I anticipate that the gold price may dip to the highlighted support level before resuming its upward trend. This movement could potentially fill the gap and retest the highs around or above $2750. A well-managed long position in this scenario could yield a profit of 100-200 pips.