PAX GOLD - PAXG/USD

- USD (-)

- Real time data - Cryptocompare

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Type:	Cryptocurrencies
Ticker:	PAXGUSD
ISIN:

PAX GOLD - PAXG/USD - 1H - Technical analysis published on 04/18/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : LEVEL MAINTAINED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Bearish

Technical indicators

17%

44%

39%

My opinion

Bearish under 2,476.94 USD

My targets

2,338.97 USD (-2.10%)

2,176.58 USD (-8.90%)

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 2,476.94 USD. The sellers' bearish objective is set at 2,338.97 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 2,176.58 USD. In case of crossing, the next objective would be the support located at 2,117.73 USD.

In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.

Force

5.5

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

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 price is 2,389.25 USD. On the day, this instrument lost -0.32% with the lowest point at 2,376.53 USD and the highest point at 2,414.97 USD. The deviation from the price is +0.54% for the low point and -1.07% for the high point.

2,376.53

2,414.97

2,389.25

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:

The Central Volumes scanner detects abnormal volumes on the asset:

Abnormal volumes

Timeframe : 5 days

Abnormal volumes

Timeframe : 20 days

Abnormal volumes

Timeframe : 50 days

Technical

Technical analysis of this 1H chart of PAX GOLD - PAXG/USD indicates that the overall trend is bearish. 78.57% of the signals given by moving averages are bearish. The overall trend is reinforced by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, only 8 technical indicators out of 18 studied are currently bearish. But beware of excesses. The Central Indicators scanner currently detects this:

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : 1 hour

The Central Indicators scanner specialised in technical indicators, has not detected anything further.

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:

Near horizontal support

Type : Bullish

Timeframe : 1 hour

Support of channel is broken

Type : Bearish

Timeframe : 1 hour

Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:

Doji

Type : Neutral

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	2,176.58	2,338.97	2,385.77	2,389.25	2,476.94	2,531.70	2,790.00
Change (%)	-8.90%	-2.10%	-0.15%	-	+3.67%	+5.96%	+16.77%
Change	-212.67	-50.28	-3.48	-	+87.69	+142.45	+400.75
Level	Minor	Minor	Intermediate	-	Intermediate	Minor	Intermediate

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2,330.24	2,353.37	2,375.12	2,398.25	2,420.00	2,443.13	2,464.88
Camarilla	2,384.54	2,388.65	2,392.77	2,396.88	2,400.99	2,405.11	2,409.22
Woodie	2,329.56	2,353.03	2,374.44	2,397.91	2,419.32	2,442.79	2,464.20
Fibonacci	2,353.37	2,370.51	2,381.10	2,398.25	2,415.39	2,425.98	2,443.13

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	805.94	1,543.34	1,999.53	2,736.93	3,193.12	3,930.52	4,386.71
Camarilla	2,127.47	2,236.89	2,346.30	2,455.71	2,565.12	2,674.54	2,783.95
Woodie	665.33	1,473.04	1,858.92	2,666.63	3,052.51	3,860.22	4,246.10
Fibonacci	1,543.34	1,999.30	2,280.98	2,736.93	3,192.89	3,474.57	3,930.52

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,816.25	1,903.59	2,057.39	2,144.73	2,298.53	2,385.87	2,539.67
Camarilla	2,144.87	2,166.97	2,189.08	2,211.18	2,233.29	2,255.39	2,277.49
Woodie	1,849.47	1,920.21	2,090.61	2,161.35	2,331.75	2,402.49	2,572.89
Fibonacci	1,903.59	1,995.71	2,052.62	2,144.73	2,236.85	2,293.76	2,385.87

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):	41.89
MACD (12,26,9):	-1.5400
Directional Movement:	-7.06
AROON (14):	21.43
DEMA (21):	2,397.15
Parabolic SAR (0,02-0,02-0,2):	2,414.35
Elder Ray (13):	-8.26
Super Trend (3,10):	2,368.93
Zig ZAG (10):	2,389.47
VORTEX (21):	0.9800
Stochastique (14,3,5):	47.82
TEMA (21):	2,396.33
Williams %R (14):	-64.05
Chande Momentum Oscillator (20):	-12.05
Repulse (5,40,3):	0.0400
ROCnROLL:	2
TRIX (15,9):	0.0000
Courbe Coppock:	0.41

MA7:	2,404.57
MA20:	2,327.98
MA50:	2,208.93
MA100:	2,107.13
MAexp7:	2,396.13
MAexp20:	2,398.79
MAexp50:	2,401.02
MAexp100:	2,400.40
Price / MA7:	-0.64%
Price / MA20:	+2.63%
Price / MA50:	+8.16%
Price / MA100:	+13.39%
Price / MAexp7:	-0.29%
Price / MAexp20:	-0.40%
Price / MAexp50:	-0.49%
Price / MAexp100:	-0.46%

Quotes : - Real time data - Cryptocompare

This member declared not having a position on this financial instrument or a related financial instrument.

About author

Londinia AI

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