Technical analysis by Cooch-Evan about Symbol PAXG: Sell recommendation (11/26/2024)

Gold prices dropped to their lowest level in a week during the Asian session on Tuesday, although spot prices found some support near the $2,600 mark.Meanwhile, the prevalent risk-on environment, coupled with bets for slower Fed rate cuts and rising U.S. Treasury yields, is driving flows out of the safe-haven XAU/USD. Theoretically, any attempt to push gold prices higher may face limitations.Ahead, the U.S. Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve’s preferred measure of inflation, is scheduled for release on Wednesday.Technically, gold is attempting to break out of the key range after testing support. If a false break occurs at the 2634 level, a minor correction towards resistance may form.Resistance levels: 2634, 2649, 2663Support levels: 2618, 2607, 2600If sellers hold the price below 2630-2634, the bearish momentum could strengthen. However, as the price is testing strong support, a significant reaction could form a false breakout and a correction, potentially targeting levels like 2649-2663 (fibo 0.5), before continuing the downtrend.As you can see, we spent over a month increasing this account from 5K to 1350k, basically guaranteeing a 90% win rate on trades. If you want to attend for free, you can contact me. We could try working together for a week. I guarantee that within a week you will experience the fun of making money. If you are satisfied with my work and want to continue the cooperation, then we can discuss the issue of paying commission. If you are not satisfied with my work, you don't have to pay me any commission! Hope we have a chance to cooperate!A lot of people message me every day and regret not contacting me sooner, they get tormented in daily transactions, a lot of people lose all their money they could have used to get more money but they choose the wrong way, they think they can profit on their own, but the end result is always surprisingly similar. Accounts were burned over and over again. So, if you still have money in your account and you want to recover all your losses and get more profits, you have to contact me. I guarantee you will work with me for 1-2 days and you will love this place forever. I guarantee that no other trader in my life can give you this feeling because it is the most authentic feedback. So don't let yourself live in regret, don't wait until you have lost everything to contact me, then really no one can help you.