Technical analysis by mykvmykv about Symbol PAXG: Buy recommendation (2/28/2025)

Gold has been fluctuating and falling since the opening of 2920 on Thursday. It fell below the double bottom support of 2876 in the US market, and fell to 2867, a drop of 53 points. The current support below is near 2863. If this position is broken again, it can be basically determined that the top of 2956 has been formed. From a technical point of view, gold has now directly changed from the previous strong shock to a weak decline. The topic to be discussed at the end of the week is whether the strength and weakness will change. Friday is also the most critical day of the week. If the weak shock turns strong again and breaks the upper 2920 position, then we can continue to look at the previous decline point 2942. Even 2956, Thursday closed with a long real Yin line, then the specific point below can be shown in the support 2863, and the upper focus is on 2900 and 20. Therefore, in the short term on Friday, we must pay attention to the gains and losses of 2920 above and 2863 below. The specific operation idea is to fall back to 2865 and look at the gains and losses of 2900 above, and then judge whether the strength and weakness have changed.It is recommended to buy at the current price of 2875, stop loss at 2870, target at 2888-2895, and short in the upper area of ​​2895-03, target at 2880-2875.The market has been volatile recently, and many people's accounts have been trapped. I would like to remind you that you must have the ability to manage risks when trading. This is an essential skill for trading and the main factor in avoiding big losses. If you don't understand risk management, you can click on my link. I hope my daily analysis can help you.