Technical analysis by DonRobbins about Symbol PAXG: Buy recommendation (5/6/2025)

Technical analysis shows that the gold daily level has built a clear pattern of stopping the decline and stabilizing, effectively alleviating the previous downward pressure. In terms of specific support levels, the integer mark of $3,300/ounce constitutes a key dividing line between long and short positions. After the gold price breaks through this point, it quickly steps back to confirm the effectiveness of the support, and then launches an upward attack again. The $3,272/ounce area that was blocked many times during the Asian session was effectively broken through during the European session, opening up space for subsequent upward movement. In terms of pressure levels, the upper track of the 1-hour Bollinger Band at $3,338/ounce constitutes a short-term resistance level. If the bulls can continue to break through, the upper target will directly point to the area near last week's high of $3,350/ounce. In terms of technical indicators, the dead cross trend of the 5-day moving average and the MACD indicator has slowed down significantly. The KDJ and RSI indicators both show a "dead cross upward" pattern and are close to the critical point of the golden cross, suggesting that after the previous adjustment of the gold market, the bullish forces are accumulating rebound momentum.