Technical analysis by jiqeu1 about Symbol PAXG: Sell recommendation (5 hour ago)

https://www.tradingview.com/x/yRMi40Ee/ Gold (XAU/USD) traded in a narrow range around $4,000 last week, lacking a clear direction. Geopolitical risks temporarily took a backseat, while the US government shutdown delayed key economic data releases, creating an "information vacuum" in the market. Against this backdrop, investors are turning to speeches by Federal Reserve officials, the dollar's performance, and volatility in the US stock market for clues about the next move. Gold closed the week near its opening price, with the $4,000 level becoming a key resistance and psychological barrier. In the medium term, gold's upside potential outweighs its downside risks. In the short term, gold prices are likely to fluctuate within a range. Although trade policy uncertainty has eased slightly, the conflict is far from resolved, thus demand for gold as a safe-haven asset remains strong, despite the recent rebound in the dollar. We expect the US interest rate cut to be larger than the market anticipates. Once government data releases resume and the fog surrounding the US economic situation dissipates, the market may shift in our expected direction, driving gold prices higher. Currently, if US stocks begin to lose momentum, gold may regain favor. Gold remains an attractive asset amid rising stagflation risks. Our outlook for gold this week! Last week, we saw gold continue to decline under pressure from the 4030 resistance level, testing a low of 3965 by the close. While there was a slight rebound at the end of the day, its strength was weak. Today, however, the market opened with a continuation of last week's rebound. Currently, the impact of news events is still unfolding, hence the strong opening, reaching around 3925 today. So, after last week's break below support, will gold continue to fall at the start of this week? Last week's decline in gold was mainly due to news events, leading to a break below support levels and the release of bearish momentum. After this rapid drop, it encountered resistance again at the 3960 support level. As for whether gold will continue to fall and rise, from the daily chart, it is currently in a consolidation phase, without breaking either the high or the low. Therefore, the overall strategy should be to sell on rallies and buy on dips. Gold: Sell short near 4045, with a stop loss at 4060, and a target of 4000-3980!Gold is falling back to our target level.