Technical analysis by faruk40 about Symbol PAXG: Sell recommendation (6/14/2024)

Gold has found short-term support near 2300 and has rebounded, currently trading around 2330. Major indicators suggest that the bullish momentum has not been fully exhausted. There is a high likelihood of another upward movement in the US market today or early next week, with strong resistance expected around 2352. At that point, the bullish momentum may wane, entering a consolidation phase. If the indicators fail to signal a renewed bullish trend, gold prices could drop below 2300, with the next short-term target around 2268.