Technical analysis by Adelaide-K1 about Symbol PAXG: Buy recommendation (12/15/2024)

Gold – Price Could Drop a Bit Then Rise to $2690 The price recently started to decline from the resistance line, breaking the $2690 level, and dropped to 2535 points, breaking the $2605 level as well. Then the price turned around and started to grow inside the wedge, where it broke the resistance line and soon reached the $2605 level. The price broke this level and rose to the wedge resistance line, after which it corrected to the support level. After that, the price traded for some time and then dropped to the wedge support line, after which it made an upward push. Gold rose to the wedge resistance line, breaking the $2690 level, but recently turned around and fell to the support line. Now, I think that gold could drop a bit below the wedge support line and then rise to the $2690 level.