Technical analysis by Anthony-Ryan about Symbol PAXG: Buy recommendation (12/7/2023)

Gold's retreat was limited. On Wednesday, gold prices remained at 2010. Although U.S. bond yields fell, a stronger U.S. dollar limited gold's upside. Once gold prices fall below 2020, gold faces the risk of a sharp correctionThe golden hour line shows a W bottom signal, and the K line falls back near 2020, which is a strong support. Of course, the bottom line for bulls is still at the 2015 line. This position is also our bottom line thinking. The K line continues to remain above the 50 moving average, and the moving average has become obvious. 's curved upward,​Gold needs to rise above 2040 to improve the short-term outlook. Once it falls below 2020, the next fall below will reach 2000.Gold is currently bullish. Target above 2040.go long