Technical analysis by Mihai_Iacob about Symbol PAXG: Sell recommendation (11/1/2024)

Over the past 10 days, I’ve consistently noted that XAUUSD is primed for a significant drop, especially after its 2,000-pip gain over 20 days. A strong correction is both healthy and expected.Yesterday, after a brief new all-time high, Gold dropped sharply, declining roughly 600 pips from top to bottom. Despite this correction, I believe there’s more downside potential ahead. I’m planning to sell rallies, especially around the broken confluence support zone, where I’m watching for entry signals.My overall target remains a drop below 2700, with 2690 as a strong support level to test.XauUsd touched the lower boundary of my sell zone. Let's see if on NFP it will touche also the higher one to add to sell