Technical analysis by izwanhafizi about Symbol PAXG: Buy recommendation (11/14/2023)

I believe that the outlook for gold is bullish in the short term. The recent decline in U.S. inflation has led to expectations of a less-hawkish Fed, which is positive for gold. Additionally, the technical picture for gold is bullish, with the price breaking above its recent resistance levels.Forecast price from today until FridayUsing all the technical analysis and deep learning models that I have access to, I forecast the potential price of gold from today until Friday as follows:Forecast PriceWednesday, November 15, 2023 $1,980Thursday, November 16, 2023 $1,990Friday, November 17, 2023 $2,000Potential support and resistance pointsThe potential support level for gold is around $1,960, which is the recent swing low. The potential resistance level for gold is around $2,009, which is the recent swing high.Other relevant informationThe U.S. dollar is expected to remain weak in the short term, which is positive for gold.The Federal Reserve is expected to be less hawkish in the future, which is also positive for gold.The technical picture for gold is bullish, with the price breaking above its recent resistance levels.ConclusionI believe that the outlook for gold is bullish in the short term. The recent decline in U.S. inflation, the weak U.S. dollar, and the less-hawkish Fed are all positive for gold. Additionally, the technical picture for gold is bullish. I forecast the potential price of gold to reach $2,000 by the end of the week.