Technical analysis by Explorer-k about Symbol PAXG: Sell recommendation (9/6/2024)

Gold has a multiple top structure at a high level in the 4-hour period, and the 4-hour moving average of gold still shows signs of turning downward. Considering the comprehensive data later, the probability of being lower than the previous value is very small, and the probability of being between the middle value is very high, and it is expected to fall back first.So in terms of trading strategy, you can choose to go short first.Gold 2520-2025 short, stop loss 2530, target 2500-2490;At the same time, the strong support below is around 2490-93. If it is not broken, you can go long at that timesellPay attention to the target positionReach the target2490-93 is still a strong support. Friends who want to go long can participate with a light positionwaitingThe market is rising slowly as expectedThe target position can be seen at 2508-14The target position has been reached