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Technical analysis by ProcessAndIntercept about Symbol PAXG: Buy recommendation (1/29/2025)

https://sahmeto.com/message/3211540
ProcessAndIntercept
ProcessAndIntercept
Rank: 5469
1.7
Buy،Technical،ProcessAndIntercept

Description:Gold (XAU/USD) has surpassed the 50% Fibonacci retracement level (discount zone), a key area where buyers often step in. Following this break, strong buying pressure has emerged, suggesting a potential continuation of the bullish trend.Technical Analysis:50% FIB Breakout: Price has moved beyond the 50% Fibonacci retracement level, signaling increased bullish sentiment.Key Resistance: The $2,765 zone remains a significant resistance level. A breakout above this area could confirm further upside potential. The nearest support lies around $2,745, which previously acted as a demand zone.RSI Signal: The RSI is approaching the overbought region, which may lead to consolidation or a temporary pullback.MACD Crossover: A potential bullish MACD crossover could further support upward momentum.Conclusion:If price sustains above the 50% FIB level and breaks through $1,950 with strong volume, bullish continuation toward higher levels becomes more likely. However, a failure to hold above this level could lead to a retest of lower support zones.Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always conduct your own research before making trading decisions.

Translated from: English
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Signal Type: Buy
Time Frame:
2 ساعت
Price at Publish Time:
$2,759.78
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