Technical analysis by dsalehi about Symbol PAXG: Sell recommendation (8/7/2024)

Gold is expected to continue it's bearish momentum. Short entry can be taken on a break below 2380 to trade down and fill the daily wick from 2 days ago. A S/L may be places above the resistance area formed in the prior session around 2395 (shown on the chart). Alternately a tighter stop around 2390 could be placed. Partial profits may be taken around 2365, and a retest of the 2380 may present an opportunity for re-entry to trade further towards the 2355 area (Pivot Point of the long term range we have been in since April).