Technical analysis by srhttekin about Symbol PAXG: Sell recommendation (12/6/2024)

Gold prices dropped by $25 on Thursday, December 4, breaking below the consolidation zone. It's common for gold to test both the highs and lows of consolidation areas ahead of major data releases. I view this decline as a potential manipulation of the lows, anticipating a rebound toward the 2658 level to target the highs before a stronger sell-off resumes after the data release.Alternatively, the price might extend this manipulation phase further, reaching the 2675-2680 level, where the H4 order block aligns with the upper boundary of the descending channel.1st ScenarioShort Entry: 2658Stop Loss: 26632nd Scenario:Short Entry: 2675Stop Loss: 2690Targets: 2622 > 2605 > 2589 > 2560 >...>2430