Technical analysis by Jack_Blackwell about Symbol PAXG: Sell recommendation (2/20/2024)

Gold surged higher and fell back in line with expectations on Monday, and the daily line closed another cross K. However, it still needs to be observed to determine whether it is a relay or a reversal. The overall pattern is still a shock, and the Bollinger Middle Track has obvious suppression, so today is very critical. You can see it if it breaks above 2050, and the 1984 position can also be seen after a negative closing in the market outlook. In the day, the H4 cycle formed a pullback after testing highs. Although it is not confirmed to weaken for the time being, we are still more optimistic about short selling at highs and the space for a slow decline. Therefore, gold is still mainly bearish at highs on Tuesday. The pressure level is at 2022. Pay attention to 2008 below. If 2008 breaks the level, look at 1995 Short gold position around 2022, stop loss 2028, target 2008, 1995