Technical analysis by nickmc1020 about Symbol PAXG on 5/31/2024

Based on the information you provided, here is the translation:Yesterday, we exited our short position at the profit-taking point based on the support level given by the 1-hour chart. Now, as the gold price continues to consolidate at a high level, the resistance levels on the 1-hour and 2-hour charts remain valid. We need to wait for the price to rebound to the resistance level before entering a new short position. If there is an effective breakout, we should switch to a long position.1-hour resistance: 23522-hour resistance: 23604-hour resistance: around 2373As for the monthly chart mentioned a few days ago, today is the closing day. If there is no significant surge in the last trading day, it will form two long wicks, which indicates a potential for a larger price correction in the later period. This needs to be noted.