Technical analysis by Dee9549 about Symbol PAXG on 5/22/2024

On the H1, XAUUSD has formed a descending triangle pattern, and the price is squeezed to support corresponding to 161.8 Fibonacci. The indicators do not give clear signals, making considering two possible scenarios necessary.🔽 If the bears push the Gold below the support at 2415, the downside target will be 2395;🔼 However, if the upper trend line is broken, the price may reach the resistance of 2440;