PAX GOLD - PAXG/USD - 1H - Technical analysis published on 01/20/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
28%
28%
44%
My opinion
Bearish under 2,031.43 USD
My targets
1,985.50 USD (-1.21%)
1,954.32 USD (-2.76%)
My analysis
PAX GOLD - PAXG/USD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 2,031.43 USD. The next support located at 1,985.50 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 1,954.32 USD. Below this support, sellers could then target 1,920.15 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
5
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
PAX GOLD - PAXG/USD rating 2,009.88 USD. The price is lower by -0.19% since the last closing with the lowest point at 1,999.66 USD and the highest point at 2,014.76 USD. The deviation from the price is +0.51% for the low point and -0.24% for the high point.1,999.66
2,014.76
2,009.88
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by PAX GOLD - PAXG/USD:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
The Central Volumes scanner detects abnormal volumes on the asset:
Abnormal volumes
Timeframe : 50 days
Technical
A technical analysis in 1H of this PAX GOLD - PAXG/USD chart shows a sharp bearish trend. 82.14% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Resistance of channel is broken
Type : Bullish
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 | 1,954.32 | 1,985.50 | 2,002.44 | 2,009.88 | 2,011.35 | 2,031.43 | 2,054.34 |
| Change (%) | -2.76% | -1.21% | -0.37% | - | +0.07% | +1.07% | +2.21% |
| Change | -55.56 | -24.38 | -7.44 | - | +1.47 | +21.55 | +44.46 |
| Level | Intermediate | Minor | Major | - | Intermediate | Intermediate | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,975.12 | 1,988.72 | 2,001.17 | 2,014.77 | 2,027.22 | 2,040.82 | 2,053.27 |
| Camarilla | 2,006.46 | 2,008.84 | 2,011.23 | 2,013.62 | 2,016.01 | 2,018.40 | 2,020.78 |
| Woodie | 1,974.55 | 1,988.43 | 2,000.60 | 2,014.48 | 2,026.65 | 2,040.53 | 2,052.70 |
| Fibonacci | 1,988.72 | 1,998.67 | 2,004.82 | 2,014.77 | 2,024.72 | 2,030.87 | 2,040.82 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,724.64 | 1,837.78 | 1,927.88 | 2,041.02 | 2,131.12 | 2,244.26 | 2,334.36 |
| Camarilla | 1,962.10 | 1,980.73 | 1,999.36 | 2,017.99 | 2,036.62 | 2,055.25 | 2,073.88 |
| Woodie | 1,713.13 | 1,832.02 | 1,916.37 | 2,035.26 | 2,119.61 | 2,238.50 | 2,322.85 |
| Fibonacci | 1,837.78 | 1,915.41 | 1,963.38 | 2,041.02 | 2,118.65 | 2,166.62 | 2,244.26 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,763.81 | 1,843.12 | 1,934.35 | 2,013.66 | 2,104.89 | 2,184.20 | 2,275.43 |
| Camarilla | 1,978.67 | 1,994.30 | 2,009.94 | 2,025.57 | 2,041.20 | 2,056.84 | 2,072.47 |
| Woodie | 1,769.76 | 1,846.10 | 1,940.30 | 2,016.64 | 2,110.84 | 2,187.18 | 2,281.38 |
| Fibonacci | 1,843.12 | 1,908.27 | 1,948.52 | 2,013.66 | 2,078.81 | 2,119.06 | 2,184.20 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 41.09 | |
| MACD (12,26,9): | -0.9700 | |
| Directional Movement: | -12.69 | |
| AROON (14): | 57.14 | |
| DEMA (21): | 2,010.61 | |
| Parabolic SAR (0,02-0,02-0,2): | 2,002.43 | |
| Elder Ray (13): | -1.79 | |
| Super Trend (3,10): | 2,025.79 | |
| Zig ZAG (10): | 2,009.86 | |
| VORTEX (21): | 1.0200 | |
| Stochastique (14,3,5): | 67.04 | |
| TEMA (21): | 2,010.11 | |
| Williams %R (14): | -23.11 | |
| Chande Momentum Oscillator (20): | -0.88 | |
| Repulse (5,40,3): | 0.3600 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.11 |
| MA7: | 2,016.98 | |
| MA20: | 2,015.88 | |
| MA50: | 2,016.67 | |
| MA100: | 1,988.97 | |
| MAexp7: | 2,011.17 | |
| MAexp20: | 2,011.54 | |
| MAexp50: | 2,012.06 | |
| MAexp100: | 2,013.24 | |
| Price / MA7: | -0.35% | |
| Price / MA20: | -0.30% | |
| Price / MA50: | -0.34% | |
| Price / MA100: | +1.05% | |
| Price / MAexp7: | -0.06% | |
| Price / MAexp20: | -0.08% | |
| Price / MAexp50: | -0.11% | |
| Price / MAexp100: | -0.17% |
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.
About author
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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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