Technical analysis by Nova-Scalper about Symbol PAXG: Sell recommendation (12/12/2024)

Nova-Scalper

⭐️Smart investment, Strong finance⭐️GOLDEN INFORMATION:Price pressures in the United States are expected to have remained sticky in November, with headline inflation picking up. While the data is unlikely to deter the Federal Reserve (Fed) from cutting rates by 25 basis points (bps) next week, it might limit the scope of the easing cycle heading into 2025. Beyond that, the situation in the Middle East remains uncertain. The Syrian rebels have appointed a prime minister for a transitional government while Israel has stepped up its attacks on the Syrian army’s facilities. Ongoing tensions in the area are buoying safe-haven flows into Gold.⭐️Personal comments NOVA:Frame H1 - complete 5 rising waves according to elliot. Need a downward adjustment to accumulate for the market⭐️SET UP GOLD PRICE:🔥SELL GOLD zone: $2746 - $2748 SL $2753TP1: $2740TP2: $2730TP3: $2720🔥BUY GOLD zone: $2674 - $2676 SL $2669TP1: $2685TP2: $2692TP3: $2700⭐️Technical analysis:Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.⭐️NOTE:Note: Nova wishes traders to manage their capital well- take the number of lots that match your capital- Takeprofit equal to 4-6% of capital account- Stoplose equal to 2-3% of capital accountGold price sideway is below 2720, the uptrend is still positiveGold price moves in wave B of elliot correction, below the 2710 zone