Technical analysis by Alexia_Putellas about Symbol PAXG on 11/9/2023

Alexia sends greetings to all of you!Today, gold continues to maintain a downward trend. At the time of writing, the price has temporarily halted trading at $1938, the lowest level in 4 weeks, near $1940. The precious metal is facing difficulties in increasing prices due to some policy makers from the Federal Reserve expressing support for further tightening.XAU/USD is declining. In the coming time, based on the 4-hour chart, it may continue its downward slide below the price channel limit at $1920. A breakout above the descending channel will encourage buyers and bring higher profits for the day.Support levels: $1945, $1933, $1923Resistance levels: $1965, $1978, $1989good luckThe safety shelter of gold is weakening when the conflict in Gaza and Israel seems to have stabilized, not escalating.