Technical analysis by xxChartWhizxx about Symbol PAXG on 4/9/2025

Current Price: $3,043Resistance Zone: ~$3,041–$3,045 (major historical level)Indicators: Bollinger Bands (BB 20, 2)🔍 Key Observations:1. Major Resistance HitPrice has aggressively rallied to test major resistance (previous support-turned-resistance).There's a sharp rejection or hesitation zone marked by a large red arrow — suggesting a possible reversal or consolidation.2. Bollinger Band Squeeze/BreakoutPrice is hugging the upper Bollinger Band, showing high momentum.However, when price rides the upper band for too long without volume continuation, it may snap back to the mean (20-SMA), which lies around $3,002.3. Potential Scenarios:📉 Scenario 1: RejectionIf price fails to break and hold above $3,045:Expect a pullback to $3,020–$3,010 and possibly to $3,002.Bearish confirmation would be a strong red candle with volume near resistance.📈 Scenario 2: Bullish BreakoutIf the price consolidates above $3,045, especially with a breakout candle:We could see a rally to $3,065 and then $3,080+.Look for volume confirmation and retest of resistance as support.📰 Fundamental Factors to Watch (April 9, 2025):🔴 High-Impact Events Today:US CPI Inflation Data – Scheduled Today🔥 Biggest mover for gold, forex, and indices.If inflation is hotter than expected: 🡆 Hawkish Fed 🡆 Dollar up 🡆 Gold downIf inflation cools: 🡆 Dovish Fed 🡆 Dollar down 🡆 Gold upFOMC Member Speeches / Fed OutlookHawkish tone = bearish for gold.Dovish tone = bullish for gold.Bond Yields & DXY (US Dollar Index)Gold has a strong inverse correlation with both.Rising yields or a stronger dollar will likely pressure gold downward.⚠️ Trading Sentiment Summary:"Gold is either going to knock down that resistance door or bounce off it like a kid running into a screen door in summer. Today’s CPI data will decide if it’s flying high or face-planting back to $3,000."