Technical analysis by AlselvSignals about Symbol PAXG: Buy recommendation (11/16/2023)

Currently, Gold is gradually recovering its trading below the resistance level of 1980 USD. At present, the precious metal is trading around the 1967 USD mark, marking a 7 USD increase in a day. It can be observed that after Gold formed its peak at 2005 USD and experienced a sharp decline, we call it wave 1 of the DOW theory. If wave 3 (the current wave) of the DOW continues to unfold, it will be a price increase wave with a temporary target of 2010 USD, followed by 2050 USD.