Technical analysis by privatedvlper about Symbol PAXG: Sell recommendation (10/16/2023)

GOLD ANALYSIS The price rejection at the 2070 triple top in May this year set the motion for the decline of Gold. As usual, during declines, there will always be retracements/uptrends deep in the trend. The last monthly candle was extremely bearish, and the current monthly candle is likely to close below its opening, leaving a deep upper wick to the upside, and forming a classic shooting star candle, another sign of more downside to come.