Technical analysis by Profit_every_week about Symbol PAXG: Buy recommendation (2/8/2025)

The short-term correction pressure of gold has increased, but the upward trend has not changed1. Current market situation: bulls are still dominant, but caution is needed in the short termGold has continued to rise in the past few weeks and even hit a new high. However, the recent rise has been too fast, and the market may enter a short period of adjustment. Although the long-term outlook is still bullish, there may be some profit-taking pressure in the short term.2. The main reasons for bullishness (the logic supporting the rise of gold)• Geopolitical risks are high: global tensions remain, US-China trade frictions, US-European economic games, etc., and the demand for safe-haven is still strong.• The Federal Reserve's monetary policy is still dovish: the market is still digesting the expectation of interest rate cuts. Although interest rate cuts may not be immediate in the short term, the overall interest rate environment has peaked, which is conducive to the rise of gold.• The trend of central bank gold purchases has not changed: central banks continue to increase their gold holdings to reduce US dollar exposure and support long-term gold prices.3. Short-term risk: possible correction• Gold has risen too much in the short term, and there is a need for correction. It is expected that there may be a certain degree of adjustment, testing the key support level.• If the US dollar index rebounds in the short term, it may bring certain pressure to gold.• Short-term investors may choose to take profits, resulting in increased short-term selling pressure.4. Trading strategy (specific operation suggestions)• Short-term traders:• If the gold price pulls back to the $2,800-2,820 area, you can consider buying low and set the stop loss below $2,780.• If it breaks through $2,900, go long with the trend, and the target is $2,950-3,000.• If it falls below $2,780 in the short term, avoid risks and wait for better opportunities.• Medium and long-term investors:• Build positions in batches on dips, and pay attention to buying opportunities at $2,750-2,800.• The long-term target is still $3,000 and above, the trend has not changed, but be prepared for volatility.Conclusion: Gold is still in an upward trend, but the short-term correction pressure is increasing. Wait for a suitable low point to enter the market, and the target is still above $3,000.I want to know if you come to the market to make money or to gamble? If you want to make money, follow me. Do as I say, and your profit will double. Let your profit grow. As long as you stick to it, your stable profit will be at least 200% to 400% per week. Don't wait until your account balance is 0 to realize that there is something wrong with your trading method. If you lose money, I will compensate you for your losses! Believe me, our cooperation will win in the end! t.me/+k9acVOilVBM2MDI0