Technical analysis by LegionQ8 about Symbol PAXG: Buy recommendation (11/27/2023)

Gold can rebound from support area to resistance line of channel Hello traders, I want share with you my opinion about Gold. By observing the chart, we can see that the price a few days ago rebounded from the support line of the wedge, which coincided with the support level and rose higher 2000 current support level, thereby breaking it. But soon it around and started to decline back. When the price reached the 1955 support level, which coincided with the buyer zone, Gold broke it and declined lower. After this price bounced from the support line, exited from the wedge, and started to rise in an upward channel, where in a short time price rose higher than the 1955 level and reached the current support level. Also soon, Gold broke it too and grew higher even support area and now price trades close it. For my mind, Gold can decline to the support area and then rebound up to the resistance line of the channel. Therefore I set up my target at this line - 2040. Please share this idea with your friends and click Boost 🚀