Technical analysis by RamziAbouAbdallah-CMT about Symbol PAXG: Sell recommendation (4/3/2023)
https://sahmeto.com/message/2746421

RamziAbouAbdallah-CMT
Rank: 7563
Analytical Power:
1.5

• Trend neutral to bullish • Bulls need to be cautious around current levels as we got contradicting signals • While prices are printing new highs, MACD is not so probable negative divergence • MACD histogram declining, which negates the bullish picture • 2000 psychological level tough barrier , bulls still not able to break it for 3 consecutive weeks, signaling lack of conviction • From a risk reward perspective, it is more appealing to go short at this level with a close stop targeting Fibonacci retracement levels, the 38.2% and 50% at 1933 and 1900 respectively explained below • Short at: 1990 SL: 2010 (previous high) - TP: 1930 and 1900 - Risk/reward: 3:1 Good Luck
Translated from: English
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Signal Type: Sell
Time Frame:
1 dayPrice at Publish Time:
$1,983.61