Technical analysis by ckb6ckb6 about Symbol PAXG: Sell recommendation (11/20/2024)

Gold daily level: Yesterday, it continued to squeeze out and pull up, closing with a small positive, standing above the 10-day moving average. After a sharp drop of 250 US dollars in the previous few weeks, there was an oversold rebound correction, and this correction was rapid, in one go, without a decent retracement in the middle. So in the process of the original short-term weak decline, there was suddenly such a wave of pull-ups. It seems strong, but it is actually internally empty and it is difficult to gain a foothold. Once it is suppressed, the speed will be relatively fast; 2643 line belongs to the 6 rebound of 2710-2536 18 division resistance, today's highest 2642 has been basically tested, and the European session ushered in a wave of decline. Once it closes below the 10-day moving average, there will be suppression signals, and if it falls below the 5-day moving average, it can be basically judged that the rebound is over and returns to suppression and adjustment; the current 10-day moving average support is 2617, and the 5-day moving average support is 2597. Pay attention to gains and losses; Gold 4-hour level: the 66-day moving average began to be under pressure, and the 10-day moving average also broke down. Pay attention to the middle track 2602 line if it declines tonight. Once it can't be maintained, this cycle will return to the weak suppression structure.Many people have made a lot of money in the market, and many people have lost everything. I want to tell you that trading is an investment that requires skills, not luck. Maybe you can make some money in a short period of time by luck, but you will lose it all in the end. If you don’t know how to make a correct analysis of the market, you can click on my website, I will share every day, I think it will definitely help you