Technical analysis by eltahhannada_na about Symbol PAXG: Sell recommendation (7/1/2024)

Based on the current charts, the bearish scenario appears more likely for the following reasons: 1.Repeated Resistance: Multiple rejections at the resistance level of 2,332.485. 2.Fibonacci Resistance: The price is near the 61.80% Fibonacci retracement level, a common reversal point. 3.Bearish Flag on Daily Chart: Indicates potential downside continuation. Most Likely Scenario: •Bearish •Entry: Below 2,328.393 if there is a clear breakdown with strong volume. •Target 1: 2,325.000 (short-term support level) •Target 2: 2,319.295 (major support level) •Stop-Loss: Above the breakdown candle or 2,329.000.