Technical analysis by ForexOptimizer about Symbol PAXG: Sell recommendation (4/2/2025)

This 1-hour Gold (XAU/USD) chart presents a Head and Shoulders pattern forming near the 3,124 level, indicating a potential bearish reversal. The structure consists of:Left Shoulder – A peak followed by a retracement.Head – The highest point in the formation.Right Shoulder – A lower high, confirming the pattern.Additionally, a Quasimodo pattern is forming, reinforcing bearish sentiment if price fails to sustain above 3,139. A breakdown below the neckline suggests a potential move toward the projected target zone at 3,039.Key Levels & Trade Plan📍 Resistance: 3,139 (Quasimodo level)📉 Support Levels: 3,107 – 3,085 – 3,039 (Main target)📊 Bearish Confirmation: Break below the neckline (~3,120)🎯 Target Zone: 3,039A clean breakdown below the neckline could accelerate bearish momentum, aligning with the projected drop of approximately 62.7 points (-2.02%). Bulls need to reclaim 3,139 for any invalidation of this bearish outlook. Keep an eye on price action confirmation before entering trades.