Technical analysis by PIPsOptimizer about Symbol PAXG: Buy recommendation (4/4/2025)

🔹 Market Structure:Gold is currently in a corrective phase after a strong bullish run, facing a pullback from recent highs around $3,160. The price has now approached a key horizontal support zone near $2,980 - $3,020.🔹 Key Levels:✅ Resistance: ~$3,160 (previous high)✅ Horizontal Support: ~$2,980 - $3,020 (marked in blue)✅ Target Level: ~$3,099 (potential bounce area)🔹 Potential Scenarios:1️⃣ Bullish Reversal: If the price finds support in the marked zone and forms bullish confirmation (e.g., hammer candle, bullish engulfing), we could see a retest of $3,099 and potentially higher levels.2️⃣ Breakdown Scenario: If support fails, gold may see further downside towards $2,950 or lower.🔹 Trading Plan:📈 Buy Setup: Look for bullish confirmation near support (~$3,020) with a target of $3,099 - $3,120.📉 Sell Setup: If support breaks, short positions could target $2,950 - $2,920.🔸 Bias: Bullish above support, bearish below it.🔸 Risk Management: Use a stop-loss below support (~$2,980) to manage risk.Would you like me to refine this further or add any indicators like RSI, Moving Averages, etc.? 🚀