Technical analysis by Betty-Bella about Symbol PAXG: Sell recommendation (12/18/2023)

Dear friends, escaping the previous price squeeze has led to an impressive increase in the product's value. Currently, the price remains stable around the $2024 mark. The fluctuations in the gold market this week are considered unpredictable as investors continue to assess the updated economic forecasts released by the Federal Reserve at their final policy meeting of 2023. Additionally, investors and traders will be monitoring some significant reports, including the personal consumption expenditure index, which will be published on Thursday. From a technical standpoint, the current support level for gold is $2,010 per ounce. If this level is broken, the metal could drop to $1,990 per ounce or even lower.