Technical analysis by Nova-Scalper about Symbol PAXG: Buy recommendation (12/10/2024)

⭐️Smart investment, Strong finance⭐️GOLDEN INFORMATION:China’s gold reserves grew by 160,000 ounces in November, reaching 72.96 million ounces, up from 72.80 million ounces. This development has raised hopes for further gains in gold prices and is expected to support demand for the precious metal.Meanwhile, Friday's Nonfarm Payrolls (NFP) report revealed that the US economy created 227,000 new jobs in November, surpassing the forecasted increase of 200,000.⭐️Personal comments NOVA:After breaking the sideway price range, gold price recovered well. Moving with the H1 Uptrend, the price range 2688, 2700 is the target resistance area.⭐️SET UP GOLD PRICE:🔥SELL GOLD zone: $2687 - $2689 SL $2694TP1: $2680TP2: $2670TP3: $2660🔥BUY GOLD zone: $2656 - $2654 SL $2649TP1: $2665TP2: $2678TP3: $2687⭐️Technical analysis:Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable BUY order.⭐️NOTE:Note: Nova wishes traders to manage their capital well- take the number of lots that match your capital- Takeprofit equal to 4-6% of capital account- Stoplose equal to 2-3% of capital accountGold price recovered - increased to 2680 area as expected