Technical analysis by L-one1 about Symbol PAXG: Buy recommendation (3/2/2025)

When is gold back after its continuous decline this week? Can gold continue next week? Today is Sunday, March 2, let's take a look at gold! This round witnessed a decrease in gold, a decrease of $ 124 from 2956 to 2832. Is this a transformation in the direction to the landfill or a bullish correction? There are three main reasons for this round of low gold prices: 1. Technical correction. From the height from 2583 to 2956, there was no significant correction. The price deviated a lot from the moving average and the correction is needed. 2. The long centers continue to achieve profits during this emerging process, and if closed and escaping at high levels, a continuous decrease will occur. There is a glimmer of hope for peace in the conflict between Russia and Ukraine. After Trump took office, he kept communicating with Russia to discuss a ceasefire plan, and calmed feelings of aversion to risk. However, the current decline in gold is only temporary, and the trend remains in the medium and long -up bullish. Focus on the support level 382 at 2813, which is the full climbing market. If it is broken, the trend will turn into a declining. Perhaps it will not rise directly and go back to a strong upward trend, but it will first settle in a side to the accumulation of momentum before height. The market is not only long and short, but it is also volatile. Therefore, do not think that reaching 4000 or 5000 is not a dream as soon as the price is high, and do not consider reaching 2700 or even 2,600 as soon as the price decreases. You have to eat one summit each time and deal with the market step by step. So be rational. The daily line decreased for three consecutive days and touched the moving average for 30 days, and the lower shade line has just penetrated, and finally closed over it, which means a specific support. Technically, the continuous recurring correction usually lasts for three days trading, and the possibility of turning to positive then is very high, so it is not appropriate to continue the declining expectations at the beginning of next week. For gold next Monday, we will look first for the apostasy with a focus on pressure at the 2865 line. If it is broken, the apostasy will continue and will reach about 2885. Support below is 2844-2845, and the separator is 2838. If the standing of 2838 is preserved and broken, there will be new declines!