Technical analysis by DECRYPTERS about Symbol PAXG: Sell recommendation (8/15/2023)

GREETINGS people Welcome to "TEAM DECRYPTERS" Lets Get to the ANALYSIS AND DECODE THE MARKETS ;) FEW TECHNICALS TO CONSIDER :- 1- ELLIOT WAVE CORECTIVE STRUCTURE 2- DECEDNING TRAINGLE 3 - POSSIBLE H & S ON DAILY / WEEKLY 4- BEARISH ORDER FLOW 5 - SMC INDICATIONS FOW DOWN SIDE AS WELL 6- WE Expecting MONTHLY AS BEARISH FOR GOLD FUNDAMENTALS IN FAVOUR :- 1- DXY TARGET 105 -107 ( So we Are Expecting Gold to Be Consolidating or Bearish ) 2- We Are Expecting 1 MORE RATE HIKE OF 25 BPS So gold seems Bearish 3- Rate cuts Surprise Matter will Add Additional Fuel to it ( AS We Expect Rates to be Held MUCH longer At least MARCH - JUNE 2024) 4- Banks Still Need to Book profits on Their positions and also to get GOLD On Cheaper prices In order to USE As collateral 5- Risk of Recession Getting Lower can *PRICED OUT* The effect of Gold bullishness FUNDAMENTALS FROM COUNTER BIAS :- 1 - BANKS RUNS / COLLAPSE CAN MAKE Counter Move- 2- "Margin call" ( No Data posting on this Matter)- 3 - Any Sort of Geopolitical Dis Order ( EXP :- WAR)- NOTE :- We Can Retrace 300 - 400 PIPS ON Upside But it still Will be Valid (considering 1900 ISH level ) Hope it Helps you all in Your long Term view and Analysis