Technical analysis by elitetrader9090 about Symbol PAXG on 4/1/2025

Gold (XAU/USD) Scenarios https://www.tradingview.com/x/LCoTkYUk/ *Market Overview:* - Gold is currently trading around *$3,132.70*, maintaining its upward trajectory. - The price remains *above key moving averages* (7, 21, and 50 EMA), signaling ongoing bullish strength. *Critical Price Levels:* - *Resistance Zone ($3,140-$3,145):* Price has tested this level but hasn’t managed to break through convincingly. A strong move above could open the door for further gains. - *Support Area ($3,127-$3,130):* Holding above this region is crucial for buyers to maintain control. - *50 EMA ($3,110.38):* Acts as a dynamic support; a drop below this level may indicate weakening momentum. *Potential Scenarios:* 🔹 *Bullish Outlook:* - A *decisive breakout* above *$3,145* could accelerate gains, pushing towards *$3,160-$3,170*. - Increased buying pressure with strong volume would reinforce the uptrend. 🔻 *Bearish Outlook:* - If Gold *fails to hold support* at *$3,127, we might see a pullback towards *$3,110** (50 EMA). - A break below *$3,110* could shift sentiment, potentially leading to a dip toward *$3,070-$3,080*. *Final Thoughts:* Gold remains *bullish* but needs to clear resistance for further upside. If support holds, buyers may push higher; otherwise, a retracement could be in play.A bearish move, dropping from **$3,127** to **$3,102**, signaling increased selling pressure. This decline suggests that resistance at higher levels held firm, prompting profit-taking or fresh short positions. **Bearish Scenario** - **Selling Pressure:** Increased selling, possibly due to profit-taking or technical breakdowns. - **Support at $3,102:** This level acted as a temporary floor; if broken, further downside towards **$3,090-$3,080** is possible. **Next** - A **bounce from $3,102** trigger a retracement back toward **$3,115-$3,120** buyers step in. - A **break below $3,102** may extend losses to **$3,090 or lower**, confirming continued bearish sentiment. Traders should watch price action around **$3,102** for the next move!Gold price bounce from 3102 to 3160 wow guys close all trades now