Technical analysis by JohnGonzalez7 about Symbol PAXG: Sell recommendation (4/7/2025)

On Monday (April 7th) during the Asian trading session, the price of gold once dropped below $2,990, but then rebounded, reducing the extent of the decline. The selling pressure intensified due to the trade war initiated by US President Trump.Alarmed investors flocked to the US Treasury bond market out of concerns that Trump's trade war could trigger a global economic recession. For now at least, they are ignoring the risk that the same punitive tariffs might trigger another round of inflation. After the US government bonds rose and pushed the yield of two-year Treasury bonds to the lowest level since 2022, traders are preparing for further upward movements and believe that there is a greater possibility that the Federal Reserve will adopt the most aggressive interest rate cut measures to prevent an economic standstill.The daily chart of gold shows that the Relative Strength Index (RSI) has declined from nearly 80, which was reached on Thursday, towards 50. This indicates that the recent decline in the gold price is not just a technical pullback.Since gold opened lower today and directly dropped, continuing the downward trend of Friday's decline, we need to consider an issue now, that is, whether there will be consecutive daily declines. From the daily rhythm, we can see that the position of the high point has been continuously decreasing. This means that after encountering resistance at the vertex resistance level of the three-point line, it is very likely to form a secondary inflection point for the downward trend!From the 4-hour analysis perspective, today's short-term resistance above is at the level of 3,055, and the support below is at the level of 3,000 to 3,008.The trading strategy for gold: Place a short order when gold rebounds to the level of 3,050 to 3,060, with the target at the level of 3,015 to 3,020.I will share trading signals every day. All the signals have been accurate for a whole month in a row. If you also need them, please click on the link below the article to obtain them.If you are trading following my signals, congratulations on making a certain amount of profits. This market is so cruel, I hope you can break through the siege.