Technical analysis by RLinda about Symbol PAXG: Buy recommendation (5 hour ago)

XAUUSD still retains its bullish structure. The price is entering a correction phase within the trading range. The key support level that may attract the attention of MM is 4150. The probability of a decline in December fell to 51% (from 63% the day before) after hawkish statements by Fed officials. Government bond yields are rising. These factors are putting pressure on gold. However, a weak dollar, a flight to safe assets amid global market sell-offs, and uncertainty surrounding US data (September reports may be published, but October data is likely to be lost) are providing support for the bullish trend. Gold retains its growth potential due to macro risks. A short-term correction is possible due to profit-taking ahead of the weekend, but the $4150 level remains key support. Resistance levels: 4211, 4239 Support levels: 4161, 4150, 4100 Within the current trading range, the focus is on support at 4161 - 4148. A false breakdown and bulls holding prices above key levels could trigger a rebound and growth to local resistance levels... Best regards, R. Linda!