Technical analysis by TimiOnur about Symbol PAXG: Buy recommendation (1/20/2024)

Momentum at low levels and positive but weakened a bit in the last day. So there may be a few days of consolidation. Price in Descending Channel and it will be breakout if price reach to 2050 with volume. I don't expect a 70% retest of the 2005 level. Then gold will go towards the short-term target of 2130. Formed Patterns : Descending Channel Price Target in Long Term : $3000 Support Level 1 : 2020.51-2024.11 Support Level 2 : 2003.58-2010.52 Macroeconomic Situation : * Due to the American debt crisis and interest rates will soon fall; individual investors, companies and central banks continue to buy gold/silver. * The crisis in the Middle East will push the Gold/Silver even higher. * Due to many issue of US Dollar, I expect DXY will fall which is good for Gold/Silver.