Technical analysis by rday1927 about Symbol PAXG on 10/9/2023

Hey Folks! We're seeing a rise in the price of GOLD due to the Israeli-Palestinian conflict, which is really unfortunate for those who are affected. And this conflict has caused a significant gap in the gold market when it opened.As we've discussed previously, major players like banks and wholesalers tend to make big moves in response to significant global news events, and this is one of those times.Looking at the chart, IF the conflict continues, it's likely that gold will move toward our resistance level, which is between 1880 - 1900. And if not then we will be seeing a rejection in 1870 - 1860.Note: It's also vital to keep a close watch on another critical factor— the upcoming decision by the Federal Reserve regarding interest rates. This decision could serve as the pivotal factor influencing whether we should consider a buying (long) or selling (short) .