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

Yesterday, gold was very strong. The bulls rose from 2891 to 2937. There was basically no big retracement in the middle. The daily line closed with a big positive line again, and a new bull rose. Today, we will focus on the situation at 2942. The daily line has stopped at the position twice. If it cannot break through this time, the daily line will form a three-top pattern at this position. We will not guess the top. There is no doubt that the short-term strong bulls are strong. Today's idea is to do more first after the retracement. The big pressure will not pass at once. It will retrace and repair below 2942. The retracement and repair are our opportunities to do more again. Today, the Asian session will first see the retracement and then pull up.The first support for the retracement is around 2920. This position is still a pattern support. We consider it more when the white session is close to it. In addition, the strong support of the daily line has risen to 2906 and 2913. These two positions were strong pressures before, and now they are strong supports. The gold shock is quite severe. The daily line has experienced a high-level shock. We need to grasp its rhythm.Pressure 2942-2939, support 2920, strong support 2913 and 2906, the strength and weakness watershed of the market is 2920.Fundamental analysisToday, pay attention to the content of the Federal Reserve's monetary policy meeting minutes.Operational suggestionsGold-----More around 2920, target 2939-2956