Technical analysis by frapelloso about Symbol PAXG: Sell recommendation (8/23/2022)

After a failed formation of a cup and handle and a fake breakout of the triangle, I could see Gold testing the confluence area of the trend line and previous historical resistance that has never been tested as a support. This could happen if the rates hiking by the Fed keep going on for the biggest part of 2023. This is just pure TA, FA tells me the opposite where 1675 should be strong support before new highs due to its nature as an inflation hedge