Technical analysis by Sanhara about Symbol PAXG: Sell recommendation (11/28/2024)

Gold is trading at $2,627.92, down -0.31%, as bearish momentum dominates. The price faces strong resistance at $2,700 and $2,800, where sellers have repeatedly rejected upward moves, keeping gold under pressure.On the downside, immediate support is at $2,587, with a break below this level likely pushing prices toward the $2,500 region. The broader bearish structure suggests a continuation lower, though a temporary rebound to $2,700 is possible before further declines.Traders should focus on the resistance zones for potential sell opportunities and monitor the support levels closely for signs of a breakdown. Gold’s trend remains vulnerable unless a major shift in sentiment occurs.