Technical analysis by sabiotrade about Symbol PAXG: Buy recommendation (10/29/2024)

#trading_idea 🔔👑#Gold- Ready to Rise More?💰 Gold prices lingered near record highs on Tuesday, supported by uncertainty surrounding the upcoming U.S. presidential election, while investors awaited data for clues on the Federal Reserve's interest rate trajectory. Let’s take a look at the 4H chart. We can see the formation of an Ascending Triangle, which signals a potential bullish breakout. However, despite the strong upward movement, there’s a divergence with the Momentum indicator, suggesting a possible downside correction.🔼If the price break through 2757, the further rise to 2770 is possible. 🔽Otherwise, a slide to 2749 support zone and lower could be expected.What are your thoughts on gold🤔 ? We’d love ❤️‍🔥to hear them and discuss!🔴 Click "👍" if you think the price will rise and "👎" if you think it will fall.➡️➡️ TRY SABIOTRADE NOW