Technical analysis by GoldNest_by_Lovewell about Symbol PAXG: Sell recommendation (12/20/2024)

Gold rose and corrected yesterday, reaching a high of around 2626 before starting to decline, and this continued until the end of the US trading session, where it fell again to around 2586. Yesterday in the TradingView community, I introduced a short trading strategy at the 2625-32 retracement line, and friends who follow me can see it. The daily line also closed as a hammer line, basically approaching the previous day's retracement low, and then bounced back in the early Asian morning. This type of continuation market is also common, and it can be said that it is a relatively easy-to-operate situation. Below, we continue to pay attention to the previous low of 2580-82, and we still treat it as a rebound short sale. From the daily and hourly lines, the bears are pressing step by step, and there is still room for the bears. From the four-hour analysis, the lower resistance focuses on the 2580-82 line, and the upper resistance focuses on the 2607-12 area. The daily rebound is based on this situation to continue selling and follow the trend downward. The lower target position is still focused on breaking the bottom. The short-term and long-term strength boundary is 2640. The daily level is under pressure below this position and continues to maintain the main selling rhythm of the rebound. Opposite buy orders are cautious and light positions are involved. Gold operating strategy:1. Gold rebounds to the 2607-2612 short line, stop loss 2621, target line 2580-2583;