Technical analysis by KeN-WeNzEl about Symbol PAXG: Sell recommendation (3/11/2025)

Technical Analysis:1.Trend:•All three timeframes (H1, M15, M3) show a clear downtrend.•Price has broken key support levels and continues to make lower highs and lower lows.2.Indicators:•MACD: Bearish momentum is strong across all timeframes.•RSI: All readings are below 40, signaling bearish momentum with room for further downside.•OBV: Declining, suggesting distribution and strong selling pressure.3.Key Levels:•Support: 2868•Resistance: 2900 (recent swing high)⸻Fundamental Analysis:•US Dollar Strength:•Higher probability of hawkish Fed rhetoric or strong NFP data leading to more downside in gold.•Rising Treasury yields could put further pressure on gold prices.•Risk Sentiment:•Stronger risk appetite (equities rallying) often leads to gold weakness.⸻Trade Setup (Short Position):•Entry: 2885•Stop Loss (SL): 2905 (Above resistance)•Take Profit (TP): 2845 (Next major support)•Risk-Reward Ratio (RRR): 2:1 XAUUSD