Technical analysis by MBoxtrade about Symbol PAXG: Sell recommendation (6/19/2023)

The US Federal Reserve kept interest rates unchanged on Wednesday but indicated that the hiking cycle is not over and that rates may need to rise by as much as 50 basis points on slower-than-expected moderation in inflation and resilience of the US economy.The market, however, doubts the Fed’s trajectory of interest rates, with pricing showing a less than 100% chance of one rate hike this year, with rate cuts starting as soon as next year. Markets will be looking for cues from Fed Chair Powell’s speech in the coming week for a justification of the dovish pricing.Trade strategy short Entry 1955 to 1960 tp-1947tp-1937