Technical analysis by Selena_Bella about Symbol PAXG: Buy recommendation (11/17/2023)

Gold is quiet around 1980 USD, the price is still increasing Dear friends, Gold prices are trading positively for the second consecutive day on Friday - also marking the fourth consecutive day of price increase - and are currently just below the highest level in nearly two weeks achieved the previous day. This increase is fueled by the growing number and interest rates of open positions, presenting an opportunity for profit in the very near future. However, the main resistance for upward price movement still exists at the $2,000 mark. The 4-hour chart indicates that the upward trend may continue. Immediate support is currently at $1,975, followed by the $1,960 support level, which is backing this price increase. Slipping below the latter level would indicate the end of the current uptrend, with a potential initial decline towards $1,950. Support levels: $1,974, $1,962, $1,954 Resistance levels: $1,992, $2,001, $2,010