Technical analysis by IvyMorgan about Symbol PAXG: Sell recommendation (22 hour ago)

Gold is trading near the $4,090 area after a strong rally, and the current move appears to be just a correction to capture liquidity. The technical pattern remains positive, as the lows remain higher and price gaps are still gradually being filled. As long as the price remains above the $4,080–4,090 range, buyers maintain the advantage, with the possibility of targeting $4,120–4,130. Dollars later. The main support comes from expectations of a US rate cut, declining bond yields and a cooling dollar strength. Geopolitical risks make gold a defensive option for investors. A clear break of the $4,080 area will change the picture in the short term and open the way towards $4,000.