Technical analysis by L-one1 about Symbol PAXG: Buy recommendation (3/4/2025)

On the one hand, the completion of the foot correction cycle and the formation of recovery conditions were effective in this strong rise in gold prices, while the implementation of customs duties was an important driving force. After putting 25 %customs duties in the US, Canada and Mexico, Canada rapidly retaliated by putting 25 %customs duties on US goods worth $ 30 billion. In addition, in the next 21 days, it plans to impose more than $ 130 billion in Dollars. If the US does not stop the customs duty policy, it will take firm measures in the future. At the same time, the United States added 10 percent more customs duties to the Chinese goods on the original tariff, which led to China's reaction and announced that it would take counter -measures. After Trump's "Customs Duties Speaking About Customs Duties" after winning the election, the global trade situation became increasingly tense until the official implementation of customs duties. The sense of avoidance of the risk caused by customs duties provided strong support to the rise of gold. Gold rapidly rose about $ 30 rapidly on this day. The market made a bottom at a daily level last Friday and recovered last Friday and continued to recover yesterday and closed with a great real positive line. Alt It was formed in terms of fractal shape and the market is today tending to rise. The highest price has reached around 2924. Now the K line saved the 5 -day moving average and broke the middle way and the 10 -day moving average resistance. Today's daily line continues to close with a great reality positive line, so the bulls will return strongly and will re -test the 2956 resistance tomorrow. If the closing line turns below the 10 -day moving average, the market will fluctuate. In order to be ascended, we need to wait for a wave of consolidation in order to see it. In the 4 -hour graph, yesterday's consecutive positive rise wave broke the middle road pressure and recovered to confirm the middle road support at the end of the market processing day and closed at a high level. Today, after a consolidation in the Asian session, Europe continued to rise and the previous resistance was gradually broken. The bulls took the situation under control again. Currently the Bollinger bands are opening upwards and the MACD gold intersection is separated upwards. The kinetic energy of the red column is gradually increasing, which shows that the current trend is strong. The process is mainly rise. However, the K line is currently working on the upper path of the Bollinger bands and far from the 5 -day moving average line K line, which is not suitable for continuing the rise of gold. Therefore, wait for the K line to retreat and correct the indicators in the short term, and then rely on the 5 -day moving average support to continue the rise. Currently, the 5 -day moving on average is 2900. Today, the European session is strong, so the US session can rise again, the intellectual operation is to retreat to the bottom levels and to make more purchases. 2920-2930 is targeted and returned to the range of 2904-2908.2. 2928-2933 is recommended to keep the area blank and the target is 2910-05.