Technical analysis by Domain_EXFX about Symbol PAXG: Sell recommendation (2/12/2024)

After a week of a downtrend, gold now is on the verge of breaking another support near the 2020 price area, there is a lot of opportunity for the short traders to make a massive profit from the bearish trend. However, these are one of the following criteria that short traders need to wait for before making a decision : 1. Gold needs to break below the 2020 price at least or make a bearish candle formation below the support to convince the short position and less risk. 2. A failure to break below the price will only make the pair test the resistance area of 2025-2027 and a solid bullish formation can send the pair flying towards 2037.Disclaimer: Please follow at your own risk, and make sure you are following your own SOP before entering the forex market.