Technical analysis by ewturk about Symbol PAXG: Sell recommendation (12/18/2024)

Gold appears to be completing an Elliott Wave correction patternWave ((4)) is forming a regular correction near $2665 levelOnce Wave ((4)) is complete, expect Wave ((5)) to move towards $2600-$2590 areaKey invalidation level remains at $2699.91Short positions can be considered after Wave ((4)) completion and momentum confirmationCurrent price action suggests limited upside potential before bearish continuationKeep in mind wave patterns can shift. Always use proper risk management and wait for clear confirmation before entering trades.Stay cautious around key economic events and monitor dollar strength which could impact the expected move.