Technical analysis by Chungha_KP about Symbol PAXG: Buy recommendation (3/24/2025)

Gold remains inside a well-defined ascending channel on the 4-hour timeframe. After reaching a local top, price has started to form a rounded correction pattern, with several lower highs suggesting a soft pullback rather than a sharp reversal.Currently, price is approaching a strong demand zone between $2,974 and $3,015, which aligns with both the channel midline and the previous breakout base. This area has also acted as support during past consolidations.If price holds within this blue support zone, we could see a bullish bounce, potentially forming a higher low before continuing upward. This would open the path for another wave targeting the top of the channel, possibly aiming toward the $3,060–$3,100 region.The moving averages are still sloping upward, indicating that the broader trend remains bullish. The recent dip could just be a healthy retracement within that trend.My plan as an analyst: Wait for a reaction in the support zone. If bullish confirmation appears (e.g. bullish engulfing, strong rejection wicks), I will look for a buy opportunity targeting the upper channel.Let’s see if gold can turn this dip into a fresh bullish leg.