Technical analysis by Investroy about Symbol PAXG: Sell recommendation (8/15/2022)

Firstly, taking a look at the WEEKLY timeframe chart, we can clearly observe how the price has reached a key level of resistance that lines up with the upper boundary of the descending channel plotted on the graph. At the same time, the same level aligns with the 0.618 Fibonacci retracement level. Zooming into lower timeframe charts, we can add extra confluences and identify how the price is forming a nice top around the local zone.With our Stop Loss level above the freshly formed top and the Target Profit at the zone of support shown on the graph, we look forward to launching SELL positions. Have an incredible trading week, family!