Technical analysis by ActuaryJ about Symbol PAXG on 10 hour ago

Gold Technical Analysis: Daily Resistance: 4382, Support: 4260 4-Hour Resistance: 4371, Support: 4290 1-Hour Resistance: 4350, Support: 4302 From the 1-hour chart, gold is currently consolidating at a high level, but the overall upward trend remains unchanged. Structurally, after the previous surge, the upward momentum failed to continue, with multiple attempts to break through resistance and subsequent pullbacks, leading to a short-term consolidation pattern. The current price pullback to the lower part of the consolidation range is a normal correction after the initial rise. In terms of moving averages, the price has returned to the vicinity of the short-term moving averages and the middle Bollinger Band; the Bollinger Bands have not expanded significantly, indicating that volatility remains within a controllable range, and short-term consolidation may continue. The first upward resistance level for gold is at the upper Bollinger Band at $4352. A break above this level could lead to a challenge of the historical high of $4382, and subsequently the psychological level of $4400. On the other hand, if bearish candlesticks appear and prices remain below the December 17th low of $4300, short-term sellers will control the market, and prices will continue to decline. Support levels to watch are $4300, $4371, and $4357. The key resistance levels for the NY market are $4352 and $4380. The short-term reversal point is at $4302! NY Market Reference Strategies: Risk Strategy: SELL: $4345-$4353 Safe Strategy: SELL: $4368-$4376 If a significant pullback occurs, buying suggestions: BUY: $4300-$4292 BUY: $4272-$4265 More Analysis →