Technical analysis by tradingconmike about Symbol PAXG: Sell recommendation (11/8/2023)

GOLD → XAU/USD extending declines into $1,950 Gold's extension into three straight declining days is sending the XAUUSD back towards the 200-day Simple Moving Average (SMA) currently near $1,935. Recent momentum in the Spot Gold chart has left both a lower low and a higher high acting as technical boundaries for trend momentum; the near-term technical ceiling sits at $2,009 while the floor on any bearish continuations will eventually need to clear $1,810.