Technical analysis by heleboy about Symbol PAXG: Buy recommendation (12/4/2023)

As the market began to price that US interest rates would not increase from now on, mobility in gold increased. Gold gained rapid value against the dollar. There is a significant resistance zone ahead. Even though it has already turned down from this resistance (2082), it seems that it can continue on its way by gathering strength. The $2200 level is a resistance zone resulting from a long-term trend, and I am one of those who think that interest rate declines must begin to be overcome. If this resistance is overcome, it can be expected to go up to $2400. If it is insurmountable, $2100 will stand as a strong support. $2400 is the TOBO high and again coincides with a long-term trend line. This resistance may be difficult to overcome. We'll see. YTD.