Technical analysis by IAm_Ryder about Symbol PAXG: Sell recommendation (6/15/2024)

Hello dear friends, let's explore the gold price after yesterday's big fluctuations! About developments and news results: Gold prices experienced significant volatility on Friday, maintaining stability above the $2,300 mark and reaching $2,332, highlighting gains of 320 pips. This happened as US Treasury yields fell, benefiting the precious metals market. Conclusion about gold and the trend: In general, the main trend of the market is still down on almost every time frame. But! The fact that gold is still above 2,300 USD/ounce proves that buyers still actively consider corrections and price drops as good opportunities to increase gold holdings. Personally, Ryder expects that from the resistance limit of the gold channel, the market may sell off to the $2,250 mark because the correction trend of gold has not ended yet.Trade activeTrade active