Technical analysis by biconmoney about Symbol PAXG: Buy recommendation (3/22/2025)

Gold is currently in a major Elliott Wave cycle (1-2-3-4-5).Wave (3) is targeting around $3,302.Wave (5) is projected to reach around $4,164 (aligned with the 2.618 Fibonacci extension).Key Support & Resistance Levels$2,441: Potential support area for wave (4) after wave (3) completes.$3,302: Resistance zone for wave (3) target.$4,164: Long-term target for wave (5).$2,020: Strong long-term support if a deep correction (WXY corrective structure) occurs.Ichimoku CloudThick Ichimoku cloud, with both Kijun and Tenkan lines trending upwards, confirming a strong bullish trend.Price is currently above the cloud, supporting the idea that wave (3) is still unfolding.Primary Scenario2025 - 2027: Wave (3) could reach the $3,302 area.A correction might follow towards $2,441 for wave (4) before heading into wave (5) targeting $4,164 around 2030 - 2032.Alternative ScenarioIf wave (5) fails or the market does not hold $2,441, a larger WXY corrective pattern may form, pushing the price down to $2,020 before finding a strong rebound.Strategy RecommendationLong-term (2025 - 2032): Favor holding gold for targets between $3,302 - $4,164.Short-term (2025 - 2027): Consider partially taking profits around $3,300 when wave (3) finishes and prepare for wave (4) pullback.NotesClosely monitor price action near key levels mentioned above.Keep an eye on macroeconomic indicators (U.S. interest rates, inflation, USD Index) as they heavily influence gold trends.