Technical analysis by Fxalexander122 about Symbol PAXG: Buy recommendation (10/16/2023)

The Gold price brief recaptured the key short-term descending 21-Daily Moving Average (DMA) at $1,878 but failed to yield a daily closing above the latter.The 14-day Relative Strength Index (RSI) indicator is lying just below the midline, suggesting that the upside attempts appear temporary in Gold price.Failure to seek a weekly close above the 21 DMA at $1,878 could reinforce bearish interest, fuelling a fresh downswing toward Wednesday’s low of $1,859.The next relevant support is seen at the $1,850 psychological level.On the upside, recapturing the 21 DMA barrier on a sustained basis will confirm a bullish reversal from multi-month troughs. Gold buyers will then target the $1,900 threshold. At that level, the mildly bearish 50 DMA coincides.Further up, powerful resistance around the $1,925 level could be challenged, where the 100 and 200 DMAs hang around.TARGET : 1860Gold sell 100 Pips runningGold sell 110 pips runningGold sell 120 pips runningGold sell 130 pips runningGold sell 140 pips runningCheck my signalHello everyoneConfirm my chartFollow my signalGold sell 150 pips runningGold sell 160 pips runningGold sell 170 pips runningGold sell 180 pips runningGold sell 190 pips runningGold sell 200 pips runningGold sell 210 pips runningGold sell 220 pips runningGold sell 230 pips runningGold sell 240 pips running