Technical analysis by rashaba01 about Symbol PAXG: Sell recommendation (1/26/2024)

Gold is currently trading in a downward channel and got rejected at 2036 thus creating a lower high. The pair then broke outside of a corrective pattern and now bulls getting rejected again at 50% fibo of 2036 high and 2009 low. Further decline could see it dop to fibo ext -0.27 at last week's low of 2001, make a little correction before dropping to 1980 and completing a fifth fibo wave.