Technical analysis by WJ.Y about Symbol PAXG on 5/23/2023

Purpose: Looking to accumulate physical Gold for long term hold Strategy: Fractals and Seasonals pointing to bottom in Nov/Dec 2023Monitoring is active.Gold: $1947/oz Technicals: 1. Fractals pointing to a downward trend until end of 2023 2. It is now even more clear that the peak was at $2075/oz Fundamentals: 1. Hot jobs report and resolution of debt ceiling (goes to Biden now to sign off before 5 June, in 2 days) leading to big dump in safe haven Analysis: 1. Price wave going as planned. 2. Will monitor and update periodicallyGOLD : $1936.21 Technicals: 1. A clear wedge has formed and potential drop down to $1850/oz 2. MACD made only 2 days in positive and seems extremely weak now in negative Fundamentals: 1. Hawkish Fed, even though it halted rate increases in Jun, looking at 2 more Analysis: 1. Price wave going as planned 2. Will monitor and update periodicallyGOLD : $1920.26 Technicals: 1. Wedge broken 2. MACD is now negative 3. Still hovering above 1900/oz round number Fundamentals: 1. China appears to be selling Gold to shore up its yuan 2. China economy in very weak posiition Analysis: 1. Wave going as planned 2. Monitor if a move below $1900 happens, $1800 will come up very quickly.GOLD : $1910.14 Technicals: 1. Price broke $1900 momentarily Analysis: 1. Expecting retest of $1900 floor and keeping pushing with a sudden break down to $1800 2. Keep monitoringGOLD : $1909.13 News: 1. Surge in China’s Demand for Gold Is Slowing as Economy Stumbles bloomberg.com/news/articles/2023-06-20/surge-in-chinese-demand-for-gold-is-slowing-as-economy-stumbles 2. India And China Make Up Nearly 50% Of Global Gold Demand oilprice.com/Energy/Energy-General/India-And-China-Make-Up-Nearly-50-Of-Global-Gold-Demand.html Analysis: 1. GOLD is falling as CNYUSD is supported. Thesis that china is selling its gold reserves. 2. Keep monitoringGOLD : $1955.33 // Change in Fundamental Idea // Technicals: 1. We had a pump with the market believing that rate hikes are over 2. I don't think we are going to get to $1700/oz by the end of 2023 as expected, especially if there are no hikes on 20 Sept 3. 1 week MACD will need to be watched at again for a potential entry next month (Sept) Analysis: 1. I would like to see a good bottoming of 1wk MACD and decide on an entry in late Sept or early Oct (instead of Dec 2023 as previously predicted)GOLD : $1921.53 Technicals: 1. Still looking good on the 1wk MACD as it approaches below 0 Analysis: 1. No change in strategy 2. Continue to monitor the surf for the entry in late Sept / early OctGOLD : $1913.04 Just a frivolous bored comment as I restlessly and impatiently wait for the bottom for $GOLD. This wait is just frustrating like this. Another 2 months at least. Chart: t.ly/BU5FzGOLD : $1892.85 Technicals: 1. And so we have it. Breaking below $1900 - finally! 2. Breaking also below the last low of $1893 Fundamentals: 1. Honestly, nothing. The fed minutes said what it should say but the market took it negatively. Analysis: 1. Awaiting $1800. Chart: t.ly/Gnh8pGOLD : $1939.30/oz Technicals: 1. The trajectory is actually not as bearish as 3 August 2020 and 14 March 2022 2. In fact, gold price is trying to stay up, and not making although still making lower lows Fundamentals: 1. Even if Fed halts, it will take a recession or crash to bring rates down 2. But it will certainly lighten bear pressure on gold Analysis: 1. I am very keen to trade (buy), but the plan is still Dec 2023 + break of 1 week MACD Chart: t.ly/sTkQcGOLD : $1924.68/oz Commentary: 1. Still loitering going nowhere for the past month Action: 1. And for me, still waiting for the 1 week MACD to show the buy signal.GOLD : $1875.11/oz Commentary: 1. Sometimes, nothing happens. Sometimes everything happens. 2. We broke the recent low and back on track towards the bottom 3. Its still much higher than the 1800/oz I was expecting at this time Action: 1. Twiddling fingers, we need to wait a bit, still planning the Dec 2023 entry and waiting a more yummy price. 2. Will be back.GOLD : $1830.19/oz Commentary: 1. Its been a long while since I made my first comment back on 24 May 2. Sometimes, nothing happens. Sometimes everything happens! Action: 1. Hold the horses. The bun isn't yet cooked.GOLD : $1826.91/oz Action: 1. Watch the price action as it prints 1800. The support/resistance goes back to feb 23 and aug 22.