Technical analysis by GoldNest_by_Lovewell about Symbol PAXG: Sell recommendation (12/19/2024)

Yesterday, the technical side of gold was suppressed below 2650 throughout the day, indicating a weak and volatile trend. The US market fell slightly and retreated back to the 2632 mark, fluctuating sideways. After the interest rate meeting, it quickly broke the 2600 mark downward, forming a one-sided selling trend downward. The final price of gold closed at 2. The close below 600 suppressed the long-term decline, and the overall gold price completely entered a weak one-sided selling position. In the first few days of this week, I have introduced short selling trading strategies. I believe that friends who follow my TradingView community can see that today's short selling continued in today's recovery. From the four-hour analysis, today's upper resistance is around 2625-30. The intraday rebound relies on this position to continue selling and follow the trend downward. The lower target is still concerned about breaking the bottom. The dividing point of short-term and long-term strength is 2640. The daily level is under pressure below this position and continues to maintain the main short-term rhythm of the rebound. Counter trend buy orders are not involved. Gold trading strategy:1. Gold bounce to 2625-2632, sell position, stop loss 2637, target 2605-2600;