Technical analysis by KeN-WeNzEl about Symbol PAXG: Sell recommendation (3/7/2025)

Technical Analysis:1.Trend Analysis:•H1 Chart: The price was in an uptrend but has started to weaken. The MACD is losing bullish momentum, and RSI is below 50, indicating bearish pressure.•M15 Chart: The price has recently made lower highs and lower lows, signaling a short-term downtrend. RSI is below 50, and MACD is negative.•M3 Chart: The price is breaking support levels and showing increased selling momentum. The MACD is bearish, and RSI is below 50.2.Key Levels:•Support: $2895 (near recent lows)•Resistance: $2910 (previous structure level)3.Momentum & Indicators:•RSI is below 50 on all timeframes, confirming bearish momentum.•MACD is negative on M15 and M3, indicating continued selling pressure.Fundamental Analysis:•US Dollar Strength: If recent economic data favors the USD (strong labor market, inflation concerns), gold could continue lower.•Risk Sentiment: If markets are stable or risk appetite increases, gold may decline further.•Interest Rates: If the Fed maintains a hawkish stance, gold could weaken due to higher real yields.⸻Trade Setup:•Entry: $2906 (near current price)•Stop Loss (SL): $2913 (above resistance)•Take Profit (TP): $2892 (previous support level)•Risk-Reward Ratio (RRR): 1:2Execution Plan:•Enter short at $2906.•Stop-loss above resistance to avoid being stopped out by minor pullbacks.•Take profit at $2892, ensuring a 2:1 RRR. XAUUSD