Technical analysis by Hit-Eye about Symbol PAXG: Sell recommendation (2/25/2025)

Can gold still reach 3000? Today, Tuesday, February 25, let's take a look at goldGold has touched the high point of 2955 many times but never broken. It reached it again yesterday, but was blocked again. The big negative retracement in the US market failed to continue the intraday rally, and it closed at a high price after bottoming out and rebounding.It has been going through this cycle since last week. The Asian and European time rose, the US market fell first, bottomed out and rebounded, and the high point seemed to be broken but not broken. The dense support below is at the 2920 line, which is the bullish watershed. Gold has reached the critical period of bulls and bears.The bullish trend has slowed down significantly here, and the continuity is not enough. If you see the bulls peaking, it would be best if there is another wave of acceleration to the top, but the market has been slow to move, which adds some variables to the bulls and bears.The daily line has closed with a cross K for three consecutive days. It turned positive yesterday but was not strong enough. If it stays sideways below the high point for too long, it should rise but does not rise, so be careful of a decline, especially the daily MACD indicator has formed a significant downward trend with shrinking volume, and the probability of a decline is gradually increasing.Therefore, for gold today, keep a bullish mindset and do not chase the bulls. Be careful of a decline. Do not chase the bulls at high levels and break through the highs. If you want to buy more, wait until the market really breaks through the highs. You can look bearish around 2946-2947 during the day, the watershed high point is 2955, and the support below is 2930-2920. If the European session falls below 2920, you can look bearish again after the rebound.