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

When will gold recover after this week's fall? Can gold continue its rise next week? Today is Sunday, March 2, let's look under it! In this withdrawal round of gold, a decrease of $ 124 from 2956 to 2832. Is this a turn towards the decline tendency or a correction towards the rise tendency? There are three main reasons for this decline wave in gold prices: 1. Technical Correction. Since 2583 to 2956, there hasn't been a significant correction. The price has moved far away from the moving average and a correction is needed.2. In this rise process, long positions continue to make profit, if it is closed and escaped at high levels, a continuous decrease is experienced. There is a light of hope for peace in the Russian-Ukraine conflict. Trump After taking office, he continued his contact with Russia to discuss the cease -fire plan and the sense of avoidance of risk was subsided. However, the current decrease of gold is only temporary and the medium and long -term trend continues to tend to rise. Focus on the 382 support level of 2813, the turning point of the entire ascension market. If it breaks, it will return to the trend decrease tendency. Perhaps it will not rise directly and will not return to a strong rise trend, but it will be consolidated towards the sides to accumulate momentum before rising. The market is not only long and short, but also wavy. Therefore, when the price rises, do not think that 4,000 or 5,000 is not a dream when the price rises and do not think about 2,700 or even 2,600 when the price decreases. You should eat a bite at a time and take the market step by step. So be rational. The daily line fell for three days in a row and touched the 30 -day moving average, alt The shadow line pierced it and eventually closed it, which means that there was a certain support. From a technical point of view, a continuous withdrawal correction usually lasts three processes, and the probability of returning to positive afterwards is very high, so it is not appropriate to maintain a decline tendency at the beginning of next week. For gold next Monday, we will first look at the recovery by focusing on the pressure on the 2865 line. If it breaks, the recovery will continue and it will be around 2885. Alt Support 2844-2845, the water basin 2838. 2838 positions and breaks will be new bottoms!