Technical analysis by BlueHatInvestor about Symbol PAXG: Sell recommendation (12/11/2023)

GOLD chart mapping/analysis. Gold's massive (algo-triggered) blow-off top killed the bullish momentum - pending further selling pressure if DXY/bond yields decide to rally into end of the year.. Trading scenarios into EOY: Selling pressure towards 50% Fib initial support zone. Bearish EOY capitulation target = Golden Pocket support zone. Expect any bullish reversal to be met with sellers, pending underlying relative strength in DXY/bond yields. 38.2% Fib / 200SMA confluence zone as potential target for short positioning, TBC.Gold chart update (Thurs 14/12): Price action held 50% Fib - ripper bounce post-FOMC to re-test ascending trend-line (green dashed). Initial consolidation range = ~2040 psych &/or upper range of parallel channel (light blue) / 38.2% Fib. Expect further strength in precious metals if US bond yields &/or DXY extend weakness into EOY.