Technical analysis by TopGBanks about Symbol PAXG: Sell recommendation (9/25/2024)

Gold (XAU/USD) has shown strong bullish momentum followed by a consolidation phase. The price is forming a double top, which suggests exhaustion in the upward movement. A potential reversal is in play, with the projected path indicating a significant drop towards the key support level of 2,650. The price action suggests that sellers may regain control after failing to break higher, leading to a sharp decline.