Technical analysis by BlueHatInvestor about Symbol PAXG: Sell recommendation (9/12/2023)

Gold / XAUUSD ~ Bearish H&S Dump / Emerging Asset Divergence GOLD undergoing Bearish H&S - clear break below neckline; trying to establish a base to reverse momentum & re-test support. Unusually strong selling off no immediate news - feels like possible "Sell The News/Buy The Fact" event ahead of US CPI release, TBC.. DXY - up/flat/within range US Treasuries (long-dated) - down/flat/within range Silver - down/flat/holding support Only Asset Class exhibiting similar volatility is Bitcoin, up over 4% (potential divergence with Gold, TBC). Bullish Support Confluences: - 38.2% fib retrace (~1903) - July 2022 trend-line (~1900) - Psychological level (~1900) - August 2023 lows / demand zone (~1885) Bearish H&S Extrapolation Targets: - Primary = gap fill (~1870) - Undershoot = psychological level / trend-line / August lows (~1900-1885) - Overshoot = 50% fib retrace (~1850) Wait for re-test/neckline rejection to confirm H&S pattern is in play...alternatively higher than usual implied volatility from macro-economic influences warrant risk mitigation (ie wait for the dust to settle) before entering a position.. Trade at your own risk! GC1! XAUUSD SILVER BTCUSD DXY DX1! US10Y US20Y US30Y