Technical analysis by Harmonic.Traders about Symbol PAXG on 12/27/2024

The time frame used is a day for the short-term investor. Prices are trading in a sideways movement at a lower high versus a higher low within a shape that may be a symmetrical triangle with its upper limit at the resistance of 2700. Confirming its upward breakout opens the way for testing the historical high at 2790 and confirming its upward breakout with the expectation of continuing to rise to test the resistance of 2950. On the other hand, it has support of 5600 and confirming its downward breakout faces support of 2560, which is the support of the lowest price at the maximum decline and reached during the past short period. Confirming its downward breakout opens the way for further decline to test support of 2420 and technical indicators confirm the sideways movement. Conclusion: Trading until exiting the current sideways movement, either by breaking the resistances of 2700 and 2790 to adopt positivity or by breaking the supports of 2600 and 2530 to adopt negativity.