Technical analysis by Julian_FX24h about Symbol PAXG: Buy recommendation (10/31/2023)

Gold remains capped below the $2,000 barrier Gold staged a downward correction after last week's rally and fell to $1,990 early Monday. However, it quickly regained the $2000 level after that and is currently trading at $1996 today. As the US Dollar came under renewed selling pressure, XAU/USD reversed direction and headed towards the $2,000 level, erasing most of its daily losses in the process. On the 4-hour chart, an uptrend is forming and waiting for a breakout at any moment. As long as the gold price remains above 1990 USD, the possibility of price increases is still there. Support levels: 1,990.90 1,976.85 1,962.10 Resistance levels: 2,009.50 2,023.70 2,040.20Trade active