Technical analysis by Crazytrader00011 about Symbol PAXG: Buy recommendation (2/18/2025)

Market news:The London gold price rose by more than 1% on Tuesday, reaching a high of $2,936/ounce during the session, approaching the historical high reached last week again. The uncertainty of US President Trump's tariff plan has raised concerns about economic growth, prompting safe-haven funds to flow into international gold. The market is also paying attention to the talks between US and Russian officials in Saudi Arabia and the minutes of the Federal Reserve's January monetary policy meeting to be released on this trading day.Technical Review:Gold daily strong positive line once again challenged the previous high and closed with a big positive line. After the formation of the previous M top, it retreated and tested the MA10 daily moving average at 2877, then stopped at the 7/10 daily moving average and continued to maintain the opening and moved up to the 2910/2900 mark. The RSI indicator continued to run above the high 70 value, and the daily price structure was running in the bullish trend channel! The short-term four-hour chart formed a continuous positive price and re-stood on the 2900 mark. The MA10/7-day moving average formed a golden cross and opened and gradually moved up to 17/23. The price is running in the upper and middle rail channels of the hourly and four-hour Bollinger bands. Day trading ideas: intraday callbacks follow the trend of low-long layout, high-altitude assistance.Today's interpretation:Gold is currently in a slow rise. Judging from the current trend, the bull market pattern has not been destroyed. The daily line maintains a unilateral rise, and the MA5-MA10 moving average maintains a golden cross upward; the weekly line has risen sharply for seven consecutive days, strongly opening the upper Bollinger track space, and the bullish sentiment is high. Since the key point of 2906 has been successfully broken through and stabilized yesterday, the intraday situation is strong, and the operation still maintains a bullish idea of ​​​​retracement! From the technical form of the small cycle, the support level is around 2913. It is worth noting that the 1-hour gold price broke through the 2913 position after the bottom shock and sideways trading. Since 2877, the lows have been continuously raised and the highs have broken upward. As long as the bulls do not lose the 2913 retracement support point today, the upward direction will not change. Unless the 2913 position is lost again in the future market, they will consider shorting. The bulls will pay attention to the 2940-42 pressure.Operation ideas:Short-term gold 2913-2915 long, stop loss 2904, target 2940-2950;Short-term gold 2948-2950 short, stop loss 2959, target 2920-2910;Key points:First support level: 2928, second support level: 2920, third support level: 2913First resistance level: 2942, second resistance level: 2948, third resistance level: 2956Today's highest price is 2954. The target has been hit. My fans and I have made a profit. If you also want to make a profit, please contact me for help.Target Hit