PAX GOLD - PAXG/USD - 1H - Technical analysis published on 05/04/2024 (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
17%
56%
28%
My opinion
Bearish under 2,308.01 USD
My targets
2,269.80 USD (-0.69%)
2,176.58 USD (-4.77%)
My analysis
The bearish trend is currently very strong for PAX GOLD - PAXG/USD. As long as the price remains below the resistance at 2,308.01 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 2,269.80 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 2,176.58 USD as an objective. Crossing it would then enable sellers to target 2,054.54 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
7.3
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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 price is 2,285.68 USD. The price is lower by -0.07% since the last closing and was traded between 2,277.26 USD and 2,296.72 USD over the period. The price is currently at +0.37% from its lowest and -0.48% from its highest.2,277.26
2,296.72
2,285.68
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
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 this 1H chart of PAX GOLD - PAXG/USD indicates that the overall trend is strongly bearish. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The probability of a further decline is moderate given the direction of the technical indicators.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 2,176.58 | 2,269.80 | 2,284.44 | 2,285.68 | 2,293.08 | 2,308.01 | 2,326.13 |
| Change (%) | -4.77% | -0.69% | -0.05% | - | +0.32% | +0.98% | +1.77% |
| Change | -109.10 | -15.88 | -1.24 | - | +7.40 | +22.33 | +40.45 |
| Level | Minor | Major | Minor | - | Intermediate | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2,231.69 | 2,251.20 | 2,269.27 | 2,288.78 | 2,306.85 | 2,326.36 | 2,344.43 |
| Camarilla | 2,277.02 | 2,280.46 | 2,283.91 | 2,287.35 | 2,290.80 | 2,294.24 | 2,297.69 |
| Woodie | 2,230.98 | 2,250.84 | 2,268.56 | 2,288.42 | 2,306.14 | 2,326.00 | 2,343.72 |
| Fibonacci | 2,251.20 | 2,265.55 | 2,274.42 | 2,288.78 | 2,303.13 | 2,312.00 | 2,326.36 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2,167.54 | 2,226.01 | 2,290.48 | 2,348.95 | 2,413.42 | 2,471.89 | 2,536.36 |
| Camarilla | 2,321.13 | 2,332.40 | 2,343.67 | 2,354.94 | 2,366.21 | 2,377.48 | 2,388.75 |
| Woodie | 2,170.53 | 2,227.51 | 2,293.47 | 2,350.45 | 2,416.41 | 2,473.39 | 2,539.35 |
| Fibonacci | 2,226.01 | 2,272.98 | 2,301.99 | 2,348.95 | 2,395.92 | 2,424.93 | 2,471.89 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,486.90 | 1,845.36 | 2,073.08 | 2,431.54 | 2,659.26 | 3,017.72 | 3,245.44 |
| Camarilla | 2,139.60 | 2,193.33 | 2,247.07 | 2,300.80 | 2,354.53 | 2,408.27 | 2,462.00 |
| Woodie | 1,421.53 | 1,812.68 | 2,007.71 | 2,398.86 | 2,593.89 | 2,985.04 | 3,180.07 |
| Fibonacci | 1,845.36 | 2,069.28 | 2,207.62 | 2,431.54 | 2,655.46 | 2,793.80 | 3,017.72 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 46.59 | |
| MACD (12,26,9): | -1.4400 | |
| Directional Movement: | 8.68 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 2,284.76 | |
| Parabolic SAR (0,02-0,02-0,2): | 2,298.46 | |
| Elder Ray (13): | -2.21 | |
| Super Trend (3,10): | 2,314.92 | |
| Zig ZAG (10): | 2,282.37 | |
| VORTEX (21): | 0.9900 | |
| Stochastique (14,3,5): | 23.28 | |
| TEMA (21): | 2,284.64 | |
| Williams %R (14): | -75.52 | |
| Chande Momentum Oscillator (20): | -4.60 | |
| Repulse (5,40,3): | -0.4800 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 0.09 |
| MA7: | 2,308.79 | |
| MA20: | 2,344.44 | |
| MA50: | 2,281.31 | |
| MA100: | 2,158.25 | |
| MAexp7: | 2,286.10 | |
| MAexp20: | 2,286.97 | |
| MAexp50: | 2,290.03 | |
| MAexp100: | 2,297.59 | |
| Price / MA7: | -1.00% | |
| Price / MA20: | -2.51% | |
| Price / MA50: | +0.19% | |
| Price / MA100: | +5.90% | |
| Price / MAexp7: | -0.02% | |
| Price / MAexp20: | -0.06% | |
| Price / MAexp50: | -0.19% | |
| Price / MAexp100: | -0.52% |
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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