Technical analysis by Mr_Lucas_Fx_01 about Symbol PAXG: Sell recommendation (4/11/2025)

Chart Explanation:This 4-hour chart for Gold Spot (XAU/USD) displays a technical analysis indicating a potential bearish move following a price rejection from a key resistance zone:Resistance Zone (Red Box ~ $3,220–$3,240): Price sharply reacted after touching this zone, signaling strong selling pressure or profit-taking at this level.Price Action: After a bullish rally, the price reached the resistance and was immediately rejected, forming a sharp wick down—indicating a reversal is likely.Short-Term Projection:TP1 (Take Profit 1) at $3,140: This is the first minor support level where traders might take partial profits if shorting.TARGET at $3,060: A stronger support level and the main target zone for the potential bearish move. This aligns with prior consolidation and breakout levels.Support Zone (Yellow Box ~ $2,940–$2,980): This is a historically strong demand zone, where price previously reversed and may again find buyers if the bearish move extends further.Conclusion: The chart suggests a short-term bearish outlook for Gold, with a high probability of retracement to $3,060 after the resistance rejection, unless price reclaims the highs above $3,240.Note: This is not a trading signal, just my personal analysis based on current market trends.