Technical analysis by Mia-Signal about Symbol PAXG: Sell recommendation (11/19/2024)

Last week, I repeatedly emphasized that gold would rebound and recommended focusing on long trades. Those who followed my strategy have likely secured substantial profits this time.Additionally, I clearly pointed out yesterday that gold would retest the support around 2580, presenting a new buying opportunity, with resistance at 2608–2614. This analysis has been validated by the market movement.Currently, gold prices have risen to around 2640, entering a new resistance zone. Today’s trading strategy will focus on selling near the resistance area to capture potential pullback opportunities.Short selling has already obtained a good profit. For the next transaction, we need to pay special attention to the resistance area above 2640. If the price rises sharply before the gap is filled (2652-2668), we must not be greedy anymore. The trading direction needs to be adjusted to focus on selling.