Technical analysis by Zola_Hello about Symbol PAXG: Sell recommendation (1/22/2025)

Gold (XAU/USD) is hovering around $2,748 after hitting its highest level since early November. This consolidation resembles a "pause" as gold gathers strength to decide its next direction. Comments on tariffs from President Trump and expectations of further Fed rate cuts are keeping gold's bullish sentiment intact. But does gold have enough momentum to break higher?On the 4-hour chart, gold remains in an uptrend with dynamic support levels at EMA 34 ($2,707) and EMA 89 ($2,682). Strong resistance at $2,754 is the key hurdle for gold to clear to extend its rally. On the downside, the support zone at $2,727–$2,657 may act as a launching pad for another upward move.Buy: If the price breaks above $2,754, target $2,780, with a stop-loss below $2,745.Sell: If the price drops below $2,727, target $2,682, with a stop-loss above $2,735.