Technical analysis by teconlab about Symbol PAXG: Buy recommendation (11/5/2024)

Gold volatility is expected to peak around the presidential election. According to Fibonacci levels, the fifth wave and wave A have both completed. The price, currently near the lower boundary of the uptrend channel, marks the start of wave B, which is projected to move toward the channel's midline. A subsequent downtrend from this midline could potentially bring the price to around 2703.