Technical analysis by Simba_Trading about Symbol PAXG: Sell recommendation (6/2/2024)

Gold is one of the most hyped trading instrument of 2024. With all geopolitics going on I am very bullish of GOLD. I dare to say we can 10x from here when the current financial fiat system collapse as it will at some point. Yes I said it ;-). But let's not listen to me let's look at what the technicals say right now. I believe we will have a pullback coming. Technicals→ We created a double top → Week prior we created an engulfing weekly candle which the body encapsulated the weekly candle before. Although last weekly we saw a doji I still think we can drop soon. → Monthly we didn't have enough volume to close engulfing. We didn't even close past 50% of that wick→ We broke the trendline. → We are creating a bear flag on the daily.Trade → We can go to first zone and bounce back up like the first play say→ I believe second play is most likely. I see a major support there. → 3rd play is the play when whenever price goes there anticipate a HEAVY support. Your trading friend,Simba TradesWith the correct logo now ;-)Outlook is still bearish. Looking for shorts next week.Scenario 1 has played out no bearish bias for short term