Technical analysis by btirbtir about Symbol PAXG: Buy recommendation (3/4/2025)

Gold performed strongly in the European session, reaching a high of 2927. We accurately predicted the market trend and decisively arranged short orders in the 2920-2925 range. Then the gold price fell as expected, reaching a low of around 2900. The current gold price fluctuates around 2910, and the overall market is weak.From a technical point of view, gold has formed strong resistance above 2918-2924, and solid support below 2900-2805. Although the overall trend is weak, we still need to be vigilant about the possible rebound of gold prices. In the late trading period, we expect gold prices to rebound to a certain extent, but then the downward trend will continue. Therefore, the operation strategy is recommended to focus on rebound shorting, and take advantage of the opportunity when the gold price rebounds to the resistance range to make arrangements. At the same time, everyone needs to be cautious and pay close attention to market dynamics so as to flexibly adjust trading strategies.Operation strategy:Buy at 2905, target 2913-15.Short when reaching 2913-2918, target 2900-2890.