Technical analysis by nickmc1020 about Symbol PAXG on 5/17/2024

After the US data was released last night, gold did not rise but fell, hovering near its recent high. It reached a one-hour support level near 2370, which was also the one-hour support level we mentioned yesterday, and then rose by 130 points to a maximum of 2383. We made a profit of over 100 points at this position.Today, it is expected that gold will continue to fluctuate at a high level, and with the weekend approaching, the possibility of a decline is greater than a rise. We recommend that you continue to buy on dips and wait for the price to fall back to the support level before making a long position.The 1-hour support remains unchanged at 2370.2-hour support: 23604-hour support: 2350Please wait patiently for the price to fall back.