Technical analysis by shermzT about Symbol PAXG: Buy recommendation (10/13/2023)

On the H4 timeframe, price is exhibiting bullish order flow, forming higher lows and higher highs, which manifested itself as an ascending channel. Price has recently tapped into a key resistance-turned-support level at 1869, which is in line with the 50% fibonacci retracement. A throwback to this level will provide the bullish acceleration towards the next support-turned-resistance level at 1902.50, which coincides with the 100% fibonacci extension. Price is hovering above Ichimoku cloud and 20 EMA, supporting our bullish bias.