Technical analysis by JosHazler about Symbol PAXG: Sell recommendation (11/15/2023)

XAUUSD BUY confirm signal Gold reversed lower this month after failing to clear a key ceiling in the $2,010/$2,015 region. Following this pullback, the metal is nestled around the 200-day simple moving average, fluctuating in proximity to it. If prices resolve to the upside and consolidate above this technical indicator in a decisive fashion, initial resistance appears at $1,980, followed by $2,010/$2,015. On the flip side, should sellers reemerge and reignite downward pressure, the initial floor to watch rests at $1,935, located just above the 50-day simple moving average. While gold might establish a foothold in this area on a retrenchment, a breach to the downside could trigger a drop towards $1,920. Below this threshold, attention shifts to $1,900.