Technical analysis by RonPeter_Trading about Symbol PAXG: Buy recommendation (3/7/2025)

Gold has continued to fluctuate widely recently, and has gradually moved out of the horizontal consolidation range after the previous V-reversal. The 2930 line above forms a key resistance. If it breaks through effectively, it is expected to further explore the 2950 mark.From the hourly line structure, the low point of gold prices has gradually risen, and an ascending triangle pattern has been formed near 2930 in the short term. The 2905-2910 area below constitutes trend line support, and the superposition of the evening non-agricultural data may bring shocks. It is expected that the gold price will be supported and rebounded after the correction.Overall, gold is still in an upward trend, and the operation strategy continues to maintain the main low and long position at the pullback. At high levels, it is appropriate to lighten the position to fight short-term shorts.Specific strategy reference:Go long at 2900-2905, stop loss at 2890, and target 2922-2930;Go short under pressure at 2930 above, stop loss at 2938, and target 2910-2905.Today, we will focus on the impact of the evening non-farm data on the market rhythm, be cautious in chasing rising and falling prices, and respond flexibly to range fluctuations.