Technical analysis by David_Thompson_9 about Symbol PAXG: Buy recommendation (1/8/2026)

Daily chart: Yesterday's close was bearish, and the price failed to fully retrace to the 10-day moving average support. According to the usual trend, today should have relied on the 5-day moving average to retest yesterday's high. However, the actual market performance was that it went lower first, and broke through yesterday's low and the 5-day moving average. This price action suggests that today's market will likely continue its consolidation and correction pattern, with the market perhaps awaiting guidance from tomorrow's non-farm payroll data. Currently, attention should be paid to whether the price can stabilize above the 10-day moving average at the 4400 level. The recent fluctuation range may shift from the previous 4300-4400 to 4400-4500. 4-hour chart: The current technical structure shows a range-bound consolidation pattern, with the 10-day moving average and the middle band acting as resistance around 4450, while the 66-day moving average provides support around 4416. In the short term, the focus should be on the price action and price movements within this range. Hourly chart: The Asian market experienced a "smokescreen" – initially closing positive and breaking through the hourly middle band, seemingly poised for an upward move, but was then pushed back down by a large negative candle and is now under pressure below the middle band again. The Asian market's focus on the 5-day moving average support at 4440 (later moved down to 4432) and the 0.618 Fibonacci retracement level failed to hold, and the price further declined to 4416 before rebounding. From the perspective of the channel pattern, the upper resistance level has shifted down to 4448-49, while the lower support level has shifted down to near 4400. The price is currently trading within this channel. It is worth noting that the short-term MACD has gradually shifted from yesterday's top divergence to a bottom divergence, which means that a technical rebound is likely to occur during the price decline. Overall, the market tends to seek an upward breakout opportunity after completing the current downward trend. XAUUSD GOLDG2026 XAUUSD GOLD XAUUSD