Technical analysis by noam_chom about Symbol PAXG: Sell recommendation (4/12/2024)

Gold Pulls in More Fools, Rally to $1950 then Fade I rally between now and April-May looks like a good risk-reward, however those gains are likely to get faded very fast as capital flows back into discounted equities, and other growth assets Of all the minerals mined from the Earth, none is more useful than gold (this is speculation). Its usefulness is derived from a diversity of special properties. Gold conducts electricity, does not tarnish, is very easy to work, can be drawn into wire, can be hammered into thin sheets, alloys with many other metals, can be melted and cast into highly detailed shapes, has a wonderful color and a brilliant luster. Gold is a memorable metal that occupies a special place in the boomer mind.Comment: Continuing to move up nicely! don't over think this breakout yetComment: more fools being pulled in, as Russia-Ukraine tensions peak. "FED" taper tantrum fears shake retail out of growth companiesComment: we've already entered the fake-breakout range. now its time to wait a few weeks and see if continuation invalidates the theory - or if the great fade, de-VIX event, and geopolitical de-escalation happensComment: looks invalidated. this week is the moment of truthComment: looks like the top is in and now we fade. tough callComment: fading in full force. Shiny Rock BadComment: $1825-1835 is critical for Gold this summerComment: sub $1815 this is going to get uglyComment: the pain continues for Boomer Gold BugsComment: massive Gold rally is initiated. fake out was correct, but its been totally consumed by inflation buyers since