Technical analysis by caylibhendricks007 about Symbol PAXG on 4/4/2024

Inflationary pressures in Europe continue to decline. OPEC+ countries continued their voluntary production cutsThe Eurozone Consumer Price Index for March declined to 2.4% y/y from 2.6% y/y in February, better than expectations of 2.5% y/y. The core CPI declined to 2.9% y/y in March from 3.1% y/y in February, better than expectations of 3.0% y/y and the slowest growth rate in 2 years. The disinflation trend coincided with recent remarks by ECB policy director Robert Holzmann, who said that a slowdown in price growth could make a June rate cut appropriate.WTI crude oil prices fell slightly and are trading just below $86 per barrel after the latest EIA data showed an unexpected rise in US inventories. US crude inventories rose by 3.21 million barrels instead of the expected decline of 1.511 million barrels. Nevertheless, prices remained near 5-month levels as traders were concerned that the Middle East's geopolitical tensions could disrupt oil supplies. In addition, OPEC+ countries decided to extend a voluntary production cut of 2.2 million barrels per day until June to stabilize the market.Latest changes in the stock market with only US stock pushing back :Bearish -Dow Jones Index (US30) down by 0.11%;Bullish - S&P 500 Index (US500) up by 0.11%;Bullish- NASDAQ Technology Index (US100) up by 0.23%;Bullish- German DAX (DE40) up by 0.46%;Bullish - French CAC 40 (FR40) up by 0.29%;Bullish -Spanish IBEX 35 (ES35) up by 0.52%;Bullish -British FTSE 100 (UK100) up by 0.03%.