Technical analysis by NuggetsWarriors about Symbol PAXG: Sell recommendation (10 hour ago)

Market news:On Thursday (June 26), the international gold price rose moderately, and the overall market sentiment tended to be cautious. With the temporary implementation of the ceasefire agreement between Israel and Iran, the marginal cooling of risk aversion, and the fact that Fed Chairman Powell maintained a "wait-and-see" stance in his second day of testimony to Congress, spot gold rebounded moderately after hitting a two-week low in the previous trading day. At the same time, the S&P 500 and Nasdaq approached their historical highs this week, and the market risk preference did not significantly shift to the defensive sector, which also limited the height of the international gold rebound.The current gold market is in the midst of a crisscross of multiple factors. The ceasefire agreement between Iran and Israel weakened the demand for safe havens, but the uncertainty and potential conflict risks of the US-Iran negotiations provided a bottom-line support for gold prices. The Fed remains cautious about the inflation risks caused by tariffs. The postponement of interest rate cuts may lead to a stronger dollar and suppress gold prices, but the signal of economic slowdown has strengthened the expectation of interest rate cuts and the safe-haven role of gold. Technically, the London gold price fluctuated above $3,300, with both downside risks and upside potential. The US real GDP and initial jobless claims for the first quarter will be announced on this trading day, and the core PCE price index, which is the most concerned by the Federal Reserve, will also be released on Friday. Driven by the dual forces of macro uncertainty and rising expectations of interest rate cuts, gold prices maintain a range of fluctuations. In the short term, the core PCE price index released on Friday will become a key variable that affects the path of the Federal Reserve and determines the next wave of gold prices. We should also focus on the progress of the US-Iran talks!Technical Review:The seventh consecutive week of decline in gold temporarily changed the upward momentum, and the market turned to a downward trend. However, after the plunge last night, the market will usher in technical adjustments in the future, and the key watershed will be locked at 3350. As long as the gold price fails to effectively break through this resistance zone, the weak view should be maintained in the short term.The US dollar continued to fall weakly and hit a new low this week. Gold bottomed out and rebounded in the early morning and stopped at 3311, then rebounded to 3330 and closed. The daily line closed with a small positive, and the MA10/7-day moving average moved down to 3367/53. The RSI stopped and continued to flatten the middle axis. The short-term four-hour chart is in the middle and lower track of the Bollinger Bands and fluctuates repeatedly, and the hourly chart Bollinger Bands are closed. Technically, gold is still oscillating. The trading idea is to sell at high prices and buy at low prices for short-term participation. Let's look at the strength of the rebound in the Asian session.Today's analysis:Gold always starts a rebound in the second half of the night, but gold still has not reversed. Gold is still under pressure at the 3340 line in the Asian session. The market of gold has begun to fluctuate in the past two days, but gold buying has not formed a reversal. The short-term market is oscillating, but after the shock, it chooses to break through in the direction, so gold will have a large-band trend market, so today is also particularly critical. If gold forms an effective directional breakthrough, it will follow the trend.The gold 1-hour moving average is still a dead cross downward selling arrangement. Gold selling still has momentum. The key position of gold in the short term is still at the 3350 buying and selling watershed line. So before gold effectively breaks through the 3350 line, it will continue to sell at a high price. Only after gold breaks through and stands firmly at the 3350 line, will gold buying usher in a turnaround.Operation ideas:Buy short-term gold at 3313-3315, stop loss at 3304, target at 3350-3360;Sell short-term gold at 3347-3350, stop loss at 3359, target at 3320-3300;Key points:First support level: 3313, second support level: 3296, third support level: 3272First resistance level: 3346, second resistance level: 3353, third resistance level: 3367Brothers, profit is the ultimate goal of trading, and accumulating profits is what changes your life and destiny. Wise choices are far more important than hard work. If you want to get trading signals, stable profits, or want to learn the correct trading logic and skills in depth, you can consider contacting me to join us for help.