Technical analysis by MohammedQais about Symbol PAXG: Buy recommendation (2/13/2024)

May God’s peace, mercy, and blessings be upon you. With you is Muhammad Qais Abdel Ghani, a financial markets expert, in the morning update segment on gold’s short-term technical movements, for Tuesday, February 13, 2024. So, my dear brothers, we are talking about the short term and on the 15-minute frame specifically, we are watching. Gold is trying to get out of the downward path, and if prices succeed in penetrating the $2021 level per ounce and receive positive support by building purchasing positions on the 55-day moving average, and all conditions for breakthrough on the 15-minute frame are met, then we may see my dear brothers. The rise of gold has begun, targeting the level of $2028 per ounce and $2036 ​​per ounce. The condition for achieving positivity and expected goals is confirmation of the breach of the $2021 level per ounce. So, my dear brothers, we note that we have very, very important data issued at 4:30 pm Mecca time, which is considered the primary indicator for measuring inflation in the American economy, which is the core and supplementary consumer price index, and these data will be issued at a very important level. Therefore, we may see very high fluctuations in gold and strong movements, and, God willing, my dear brothers, we will follow up with you on the movements immediately after the release of the important American data and the opening of the American market this evening. So, my dear brothers, here we have finished this paragraph. Thank you for your kind follow-up. Please accept my best regards. May God protect you.