Technical analysis by fuau about Symbol PAXG: Buy recommendation (12/10/2024)

Golden triangle break strong rise!Gold news analysis: Gold rose slightly in US trading on Tuesday (December 10), with spot gold hitting 2691 at one point. Concerns about the geopolitical situation in Syria provided some safe-haven support for gold, but the rally was limited as investors took note of the possibility of a ceasefire between Russia and Ukraine and the possibility of ceasefire talks between Israel and Hamas. Investors are also awaiting US inflation data due this week for further clues on the Federal Reserve's monetary policy. This week's focus will be on Wednesday's November CPI data, and investors will need to watch for changes in market expectations.Gold technical analysis:At present, the price of gold in the daily trend began to break through the early shock range, the short cycle average began to gradually tick upward divergence tends to have the space to continue the rebound in the daily trend, in the short-term trend to pay attention to the pressure band around 2700. Gold broke out of the choppy range, gold changed from a choppy trend to a one-sided trend, 2666 from pressure to support, retract 2666 support to go long.The current price on the 4-hour trend is temporarily maintaining a narrow range of high volatility. Pay attention to the short-term trend of adjustment and repair. Gold one-sided trend has begun, gold support has been raised from 2666 line to 2675 line, if the gold price back to step in place, many singles will run into the market. In general, today's gold short-term operation ideas suggest a pullback to do more, supplemented by a rebound short, the above short-term focus on 2700-2710 first-line resistance, the following short-term focus on 2673-2675 first-line support.Thanks for watching and good luck!