Technical analysis by Gold_Digger_King about Symbol PAXG: Sell recommendation (5/1/2024)

https://www.tradingview.com/x/XA8Y4Ya9/ Gold is approaching our awaited price target of $2,260.60, which is the 50% Fibonacci retracement of gold’s rise from $1,984.16 to $2,431.44. This means that if the price of gold falls below $2260.60, the price of gold will continue its bearish trend and aim for the next target of $2207.80 On the other hand, we noticed that the trend of gold prices showed a downward trend, which supported the expectation that gold prices would continue to decline and hit more bearish targets. In particular, the 50-period EMA formed continued bearish pressure. Therefore, unless gold rebounds above $2,325.90 and remains above this level, we will continue to predict that gold prices will be in a bearish trend for some time to come. Gold prices are expected to trade today at the support level of $2,260.00 and the resistance level of $2,305.00. The expected trend for gold prices today is bearish. It is recommended to short gold near $2,300 I share trading strategies and trading ideas every day. ⬇⬇⬇Get detailed trading signals so that everyone is no longer confused when trading. I hope that with my help, everyone can get good results!The price of gold is now above US$2,300 and has not yet exceeded US$2,305. At this time, you can short gold.U.S. April ISM Manufacturing PMI Previous value 50.3 Expected 50 Announcement 49.2Although the data is good for gold, there is pressure from above. A more appropriate trading strategy is to short gold at high prices after gold rises. If gold can rise to the range of 2315-2320 US dollars, short goldThe price of gold did not rise steadily after breaking through the $2,310 level, and is falling back under pressure from above.