PAX GOLD - PAXG/USD - 1H - Technical analysis published on 07/16/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
44%
39%
My opinion
Bearish under 1,926.79 USD
My targets
1,899.79 USD (-1.05%)
1,872.70 USD (-2.46%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on PAX GOLD - PAXG/USD as long as the price remains well below 1,926.79 USD. The sellers' bearish objective is set at 1,899.79 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1,872.70 USD. In case of crossing, the next objective would be the support located at 1,794.78 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
7
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The PAX GOLD - PAXG/USD rating is 1,920.01 USD. The price registered a decrease of -0.14% on the session and was traded between 1,914.94 USD and 1,927.04 USD over the period. The price is currently at +0.26% from its lowest and -0.36% from its highest.1,914.94
1,927.04
1,920.01
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of PAX GOLD - PAXG/USD in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
Technical indicators are slightly bearish. There is therefore considerable uncertainty about the continuation of the decline.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1,872.70 | 1,899.79 | 1,910.29 | 1,920.01 | 1,921.05 | 1,926.79 | 1,945.10 |
| Change (%) | -2.46% | -1.05% | -0.51% | - | +0.05% | +0.35% | +1.31% |
| Change | -47.31 | -20.22 | -9.72 | - | +1.04 | +6.78 | +25.09 |
| Level | Intermediate | Minor | Major | - | Major | Minor | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,903.17 | 1,910.54 | 1,916.60 | 1,923.97 | 1,930.03 | 1,937.40 | 1,943.46 |
| Camarilla | 1,918.96 | 1,920.19 | 1,921.42 | 1,922.65 | 1,923.88 | 1,925.11 | 1,926.34 |
| Woodie | 1,902.51 | 1,910.21 | 1,915.94 | 1,923.64 | 1,929.37 | 1,937.07 | 1,942.80 |
| Fibonacci | 1,910.54 | 1,915.67 | 1,918.84 | 1,923.97 | 1,929.10 | 1,932.27 | 1,937.40 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,830.98 | 1,863.17 | 1,892.91 | 1,925.10 | 1,954.84 | 1,987.03 | 2,016.77 |
| Camarilla | 1,905.62 | 1,911.30 | 1,916.97 | 1,922.65 | 1,928.33 | 1,934.00 | 1,939.68 |
| Woodie | 1,829.76 | 1,862.56 | 1,891.69 | 1,924.49 | 1,953.62 | 1,986.42 | 2,015.55 |
| Fibonacci | 1,863.17 | 1,886.83 | 1,901.44 | 1,925.10 | 1,948.76 | 1,963.37 | 1,987.03 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,711.29 | 1,788.25 | 1,844.99 | 1,921.95 | 1,978.69 | 2,055.65 | 2,112.39 |
| Camarilla | 1,864.95 | 1,877.21 | 1,889.46 | 1,901.72 | 1,913.98 | 1,926.23 | 1,938.49 |
| Woodie | 1,701.17 | 1,783.20 | 1,834.87 | 1,916.90 | 1,968.57 | 2,050.60 | 2,102.27 |
| Fibonacci | 1,788.25 | 1,839.33 | 1,870.88 | 1,921.95 | 1,973.03 | 2,004.58 | 2,055.65 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 43.57 | |
| MACD (12,26,9): | -1.0100 | |
| Directional Movement: | -18.01 | |
| AROON (14): | 28.57 | |
| DEMA (21): | 1,921.36 | |
| Parabolic SAR (0,02-0,02-0,2): | 1,915.39 | |
| Elder Ray (13): | 1.06 | |
| Super Trend (3,10): | 1,933.53 | |
| Zig ZAG (10): | 1,920.00 | |
| VORTEX (21): | 0.9400 | |
| Stochastique (14,3,5): | 62.39 | |
| TEMA (21): | 1,922.10 | |
| Williams %R (14): | -58.18 | |
| Chande Momentum Oscillator (20): | -0.08 | |
| Repulse (5,40,3): | -0.4600 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 0.00 |
| MA7: | 1,925.55 | |
| MA20: | 1,907.63 | |
| MA50: | 1,920.84 | |
| MA100: | 1,964.05 | |
| MAexp7: | 1,922.14 | |
| MAexp20: | 1,922.90 | |
| MAexp50: | 1,925.68 | |
| MAexp100: | 1,926.46 | |
| Price / MA7: | -0.29% | |
| Price / MA20: | +0.65% | |
| Price / MA50: | -0.04% | |
| Price / MA100: | -2.24% | |
| Price / MAexp7: | -0.11% | |
| Price / MAexp20: | -0.15% | |
| Price / MAexp50: | -0.29% | |
| Price / MAexp100: | -0.33% |
Quotes :
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Real time data
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Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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