Technical analysis by YONEEEE about Symbol PAXG: Sell recommendation (2/16/2023)

GOLD - USD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 1,843.35 USD. The next support located at 1,811.25 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 1,778.85 USD. Below this support, sellers could then target 1,725.51 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend.