Technical analysis by SroshMayi about Symbol PAXG: Sell recommendation (2/11/2024)

Gold prices (XAU/USD) ended the week down around 0.75%, settling below the $2025 level, weighed down by the sharp jump in US Treasury yields seen in recent days following a series of strong US economic data, including an unchanged jobs report. . Agriculture January report. For context, the US 10-year bond yield traded below 3.9% last Thursday but has now exceeded 4.15% in less than seven sessions. Technically: So, in the Daily chart, Gold looks like falling to 2006.50 and 1988 because it can be stabilized under the strong resistance line which is 2037.85 To be uptrend should stable above 2050 the next station will be located in 2072, Pivot Price: 2039 Resistance price: 2050, 2063, 2088 Support price: 2007, 1988, 1973 The expected trading range for this week is between support 1988 and Resistance 2039 Tendency: inclined to downtrend