Technical analysis by Ariotrades about Symbol PAXG: Sell recommendation (12/10/2023)

XAUUSD https://www.linkedin.com/company/ariotrade/Bearish Analysis for XAU/USDSymbol: XAU/USD (Gold to US Dollar)Technical Analysis:1. Daily Chart:Main Trend: Currently, the XAU/USD is in a downtrend, displaying lower highs and lower lows, indicating a prevailing bearish sentiment.Resistance Level: The key resistance level is around [2000], and the price has faced difficulties breaking above this level, suggesting potential downward pressure.Forecast:Considering the technical and fundamental analysis, XAU/USD is likely to continue its bearish trend towards . Caution is advised, and entry and exit points may vary based on market conditions.Trading Guide:Timely Entry: Entering short positions might be effective if the downtrend is confirmed.Risk Management: Placing stops and limits is crucial for effective risk management.Note: Always stay vigilant to market changes and base your trading decisions on the latest information.