Technical analysis by mrifkidrn about Symbol PAXG on 4/8/2025

XAUUSD (Gold) Daily Chart AnalysisCurrent Price:$3,011.89, up +0.96% todayHigh: $3,014.23 | Low: $2,978.59*Technical Overview:🔹 Trend:Gold remains in a strong uptrend, forming consistent higher highs and higher lows since late 2023.However, the recent price action shows a pullback after reaching new highs.🔹 Stochastic RSI:%K = 4.55, %D = 23.48 → Oversold zoneIndicates potential for a short-term bounce if momentum picks up.🔹 MACD:Bearish crossover in progress, histogram turning red.Suggests short-term bearish pressure, though it's likely a healthy correction within a larger bullish trend.🎯 Strategy Outlook:🔸 Short-Term Strategy:Wait for a bullish confirmation near the $2,975 support zone.Watch for reversal signals from oversold Stoch RSI.Consider short-term buys if price stabilizes above $2,980–$3,000.🔸 Long-Term Strategy:As long as the price holds above $2,900–$2,950, the overall uptrend remains intact.Dips could be seen as buying opportunities in the long run.Use pullbacks to scale in gradually with proper risk management.*Thoughts :Gold is currently in a technical pullback but still bullish in the bigger picture. Short-term traders should stay cautious, while long-term bulls can look for dips to buy.