Technical analysis by Fxsnipetraders about Symbol PAXG: Sell recommendation (7/17/2024)

XAUUSD has made a new record high and after pushing to the limits we could see how bullish momentum started to fade away and losing its power slowly for the new highs. Strong bearish volume and momentum has been placed on the chart as we can see showing us first rock solid 4H candle close with a wick on the top showing rejection and as we see a liq sweep. Sellers have waited pretty much for a reversal and the time has come to see some retracement. https://www.tradingview.com/x/r1KkV0cl/