Technical analysis by ForexOptimizer about Symbol PAXG: Sell recommendation (3/23/2025)

Gold (XAU/USD) has formed a classic Quasimodo pattern on the 1H timeframe, signaling a potential bearish reversal after a strong uptrend.🔍 Pattern Breakdown:The structure resembles a Head & Shoulders, with a more complex formation known as the Quasimodo Pattern.We see a clear Left Shoulder, Head, and Right Shoulder, followed by a breakdown below the neckline.A successful retest of the neckline as resistance confirms the bearish momentum.🎯 Target Zone:Based on the height of the pattern, the projected target lies in the 2960–2970 region, aligning with a previous demand zone.The expected drop is approximately -2.10%, matching the prior rally before the reversal pattern.📌 Key Levels:Breakdown Level: ~3030Current Price: ~3024Target: ~2960–2970⚠️ Watch for:Bearish follow-through after the retest.Potential reaction in the highlighted target zone (yellow box).This setup provides a great opportunity for short sellers if momentum continues to the downside. Risk management is key as always!