Technical analysis by Zola_Hello about Symbol PAXG: Sell recommendation (1/20/2025)

Gold (XAU/USD) continues to retreat, pulling back from the monthly high of $2,725 due to heightened profit-taking pressure from traders ahead of the U.S. presidential inauguration. Market caution during the Martin Luther King Jr. holiday also contributes to the bearish sentiment.On the 4-hour chart, the price hovers near the key support level of $2,691, with downward pressure intensifying as it struggles to break through the major resistance at $2,723.689. The EMA 34 ($2,691.538) and EMA 89 ($2,670.667) provide temporary support, but selling momentum remains dominant.Integrated Strategy:Sell: If the price approaches the $2,723.689 resistance, target $2,670 and potentially $2,646.702, with a stop-loss above $2,730.Buy: If the $2,646.702 support holds, consider long positions with targets at $2,691 and $2,723.Political factors and profit-taking pressures may sustain volatility or deepen the decline. Watch critical levels closely to adjust your trading positions accordingly.