Technical analysis by GoldyMan about Symbol PAXG: Buy recommendation (3/5/2025)

Current Price: 2913.16 Time: 2025-03-05 13:29:321H Technical Analysis:Oscillators: Most oscillators are neutral, but Momentum and MACD Level indicate a SELL signal.Moving Averages: Mixed signals. Short-term MAs (10, 20) indicate SELL, while long-term MAs (50, 100, 200) indicate BUY.Pivot Points: The price is near the R1 pivot point, which may act as resistance.4H Technical Analysis:Oscillators: Mixed signals. Awesome Oscillator and MACD Level indicate BUY, while Momentum and Stochastic RSI Fast indicate SELL.Moving Averages: Most MAs indicate a BUY signal, suggesting a strong bullish trend.Pivot Points: The price is near the R1 pivot point, which may act as resistance.XAUUSD Daily Forecast:XAUUSD could retest the broken trend line on the RSI. A rebound from the lower boundary of the bullish channel reinforces the uptrend.Support: 2900, Resistance: 2935, 2985.XAUUSD Forecast: BUY.Latest News:Geopolitical tensions are driving investors towards safe-haven assets like gold, increasing demand and pushing prices higher.Impact: BUY.Upcoming Events:The release of US inflation data will significantly impact the gold market. Higher inflation could drive gold prices up as investors seek protection against inflation.Impact: BUY.GOLD Signal:Signal: BUYEntry Price: 2915.00Percentage Possibility: 60% BUY, 40% SELL.Scenarios:BUY Scenario: If the price breaks above 2935, expect further growth towards 2985. Support at 2900.SELL Scenario: If the price falls below 2875, expect further decline towards 2835. Resistance at 2935.Analysis:Despite mixed signals on the 1H timeframe, the 4H timeframe and fundamental data indicate a strong bullish trend. Upcoming events, such as inflation data, could further support gold price growth.Summary:The gold market is currently in a bullish trend supported by long-term MAs and fundamental factors. However, caution is advised due to short-term fluctuations and potential reversals.