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

XAU/USD has entered a retracement phase after the new high, but the price action does not yet indicate a trend reversal. The 4,090 level works as short-term support and stands out as the area where buyers re-enter the market. Unless the 4,080 support is broken, there is a strong possibility that the market will make a new upward move. In this case, the price can be expected to retest the 4.120–4.130 band. The technical outlook confirms that bullish control continues. The price gathers liquidity on declines and moves forward by filling FVG gaps. The Ichimoku cloud is still below the price and does not signal weakening in the direction of the trend; This shows that the current movement is a correction, not a distribution. On the fundamental side, gold is supported by the expectation that the Fed will cut interest rates in December. The dollar's loss of momentum, the retreat of US bond yields and the persistence of geopolitical risk perception keep safe haven demand alive. Although tensions seem to be decreasing on the US-China trade front, major funds maintain their cautious and defensive stance. In the short term, the main scenario is that the rise will regain momentum after liquidity gathers between 4,080–4,090. However, if this support weakens and is broken by hard sales, the price may change direction towards the 4,000 level.