Technical analysis by Soon-trader about Symbol PAXG: Sell recommendation (7/27/2024)

Currently, XAUUSD is trading around 2,387.020 USD. The price is near the 34 EMA and below the 89 EMA, indicating a short-term downtrend. The price is approaching the middle band of the Bollinger Bands, suggesting accumulation and high volatility in the near future. In the short term, if resistance is not broken, the price may correct further and test lower support levels.Trade active