Technical analysis by MarkEliza about Symbol PAXG: Sell recommendation (2/21/2024)

Gold price (XAU/USD) extends its bullish streak for the fourth straight trading session on Tuesday. The outlook for the precious metal has strengthened as commentary from Federal Reserve (Fed) policymakers that inflation is broadly moving in the right direction has faded the impact of stubborn Consumer Price Index (CPI) and Producer Price Index (PPI) data for January. The confidence of Fed policymakers that inflation is declining over the long term has trimmed the opportunity cost of holding non-yielding assets such as Gold. Meanwhile, investors await the Federal Reserve Open Market Committee (FOMC) minutes for the first monetary policy meeting of 2024. The FOMC minutes will provide cues about the timing of three rate-cuts, as forecasted by the Fed.Trade activeComment: Follow My Chart 📉📈Comment: 20 Pips Profit Successfully Done 👍✅Comment: Need Some Support 🙏Comment: Support My Chart 📉📈