Technical analysis by FOREXRSMV about Symbol PAXG: Sell recommendation (8/11/2023)

🔽⏰GOLD is testing the indicated target support at 1912.7. A false breakout is formed and the market reacts with a rebound to the false breakout of the liquidity area The price is testing the resistance of the next bearish channel. There is a possible reaction in the form of a fall from the resistance and at the same time, the price may test the resistance area above, there is no sense to talk about a change of trend and global growth now, I stick to the fact that the fall in the medium term will continue. For us an important resistance area, in a bear market, will be the zone: 1919.6, 1923, 1932 Moving averages act as resistance, the price is already testing MA-50 in the format of a false breakout. 📌Resistance levels: 1919, 19223, 1932 📌Support levels: 1912.7, 1903 I expect the price to fall along the trend from the resistance areas. Strong bearish trend dominates the market.