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

The gold price has reached our first target with a 1350+ pips gain, completing Elliott Wave A. It has now retraced 50% to 61% to form Wave B at a key resistance level. We anticipate a bearish move towards completing Wave C. We plan to enter a sell position following bearish price action on the daily timeframe.