Technical analysis by ChilhoodTraders about Symbol PAXG on 9/12/2023

The gold broke the previous bullish trend and entered in bearish trend Scenarios: 1- Expecting the price to break the zone below and test the fib 0.61 area with a long wick, Retest the upper zone and continue pushing down towards the 1D Resistance or the zone at the bottom. 2- If gold rejected the zone below and continue pushing up and breaks the Resistance above then there is a chance of buying. Note: Trade according to the scenarios with risk management and account size.