Technical analysis by RojBarwari about Symbol PAXG on 5/17/2024

The current analysis indicates a bearish trend for XAUUSD , as long as it remains below the 2382 threshold. At present, the price seems primed for consolidation between 2395 and 2370 before any breakout occurs. The prevailing bearish pressure suggests that if trading persists below 2382, a decline to 2368 is likely. Although there might be temporary fluctuations, with a potential retracement to 2392 before further movement, the scenario changes if a 4-hour candle closes under 2382, possibly leading to levels at 2369 and 2357.Key Levels:Bullish Line: 2392, 2400, 2406Pivot Line: 2382Bearish Line: 2369, 2364, 2357, 2344