Technical analysis by e3ste3st about Symbol PAXG: Sell recommendation (1/18/2025)

Analysis of gold market trend next week:Analysis of gold news: Gold prices fell on Friday (January 17), but are still expected to rise for the third consecutive week as US inflation data and dovish comments from Fed officials rekindled hopes that the central bank may cut interest rates multiple times this year. As of press time, spot gold fell 0.32% to $2,702.81 per ounce. So far this week, gold prices have risen by about 0.8%. Inflation data released by the United States earlier this week rekindled market expectations that the Federal Reserve may cut interest rates multiple times this year. It closed higher for three consecutive trading days. Gold rose about 1% this week and hit its highest point since December 12 at $2,724.61 on Thursday. The US dollar index is expected to fall by about 0.5% this week, ending a six-week rally. After the release of US core inflation data on Wednesday, traders began to digest the expectation that there may be two interest rate cuts this year. Gold has been supported this week by weaker-than-expected U.S. economic data such as PPI and CPI data and dovish comments from Fed policymakers. The continued uncertainty in 2025 has further enhanced the appeal of gold.Technical analysis of gold: I believe that everyone knows the importance of the high point near 2726. The previous two attacks have successfully ushered in a sharp decline, indicating that there is a lot of short pressure. The current attack is blocked again, and the day ushered in a volatile downward trend, breaking the slow bull market this week. In the 4-hour chart, the market has rushed up many times, but the bulls have not strengthened, and the 4-hour price has already jumped outside the upper track of the Bollinger Band, which is a bit overbought. Now that the price is so high, let's not chase high. The high position is a bit blunt and needs to be adjusted and repaired. High-altitude operations can be considered, but the position must be chosen correctly. When the short-term correction is in place, it may be easier to go long than short, but you have to be more careful and don't blindly chase more.Although the overall trend of gold is still upward, the possibility of a correction in the short term is relatively high. However, this small correction will not change the overall situation. Overall, the gold price is still on an upward trend. If the correction continues during the US trading session tonight, I think we can pay attention to the price range of 2690 to 2700 and consider buying on dips. It is unlikely that the gold price will break a new high today. It is more like an adjustment after the rise.Overall, the short-term operation strategy for gold next week is to focus on long positions on corrections and short positions on rebounds. The short-term focus on the upper side is the 2717-2722 resistance line, and the short-term focus on the lower side is the 2690-2685 support line.