Technical analysis by RobertaAlsop about Symbol PAXG: Sell recommendation (3/21/2025)

On the 4-hour chart, gold has a minor support level near $3,022, which is also the neckline of the head and shoulders top pattern. Buyers are expected to intervene here and use the neckline as a risk control point, with the goal of pushing gold prices to new highs. On the contrary, sellers will focus on gold prices falling below this support to increase confidence and increase short selling, with the target of $3,006.The gold 1-hour moving average begins to flatten. If the gold 1-hour moving average turns downward, the strength of gold bulls will weaken. Now the gold 1-hour moving average has formed a head and shoulders top pattern. Gold is under pressure at the 3057 high point and continues to go short. At present, the support of the moving average needs to focus on the MA20 line, and the death cross signal of the MACD indicator should also be guarded against. The possibility of profit correction at the end of the weekly line cannot be ruled out. Therefore, it is recommended to rebound high and go short.The only purpose of trading is to make money. Our weekly profit is more than twice the principal. I think this is more than many people make from part-time jobs. But I also want to remind you that trading is risky and you must have reasonable risk management skills. If you don't understand, you can click on my link and I can help you.