Technical analysis by wuxbwuxb about Symbol PAXG: Buy recommendation (3/7/2025)

1. (Xauusd)Support at 2900 May Not HoldThe chart suggests a bounce from the 2900 support area, but if market sentiment weakens, we could see a breakdown below 2900 instead of a recovery.If this happens, gold might dip further toward 2850 or even 2800 before regaining strength.2. Trendline Breakdown is PossibleThere's an upward trendline acting as dynamic support, but multiple touches increase the chance of a breakdown rather than a continuation.A confirmed break below this trendline could lead to bearish momentum rather than a push higher.3. Resistance May Be Stronger Than ExpectedThe analysis suggests a move toward 2960-3000, but these levels could act as a strong resistance instead of a breakout zone.Failure to break 2960 might trigger another sell-off back toward 2900 or lower.