Technical analysis by SOAM_PRO_TRADER about Symbol PAXG: Buy recommendation (4/16/2025)

🔍 Technical Overview – GOLD (XAU/USD)📌 Consolidation and Breakout Gold traded within a tight consolidation zone for several sessions, forming a range between $3,215 and $3,240. This sideways movement indicated indecision in the market.🚀 Bullish Breakout Confirmation A strong bullish breakout candle has emerged, pushing price above the range and signaling bullish continuation. This move was supported by increasing volume, adding confidence to the breakout. 🔄 Key Support Zone: Demand & RBS + Fibonacci Price is now retesting the previous resistance, which aligns with a demand zone and Fibonacci retracement level a classic RBS (resistance becomes support) structure. A successful retest here may fuel the next leg higher.🎯 Upside Targets- First Target: $3,300 - Second Target: $3,320 - Final Resistance: $3,336 ⚠️ Conclusion The breakout above consolidation signals renewed bullish momentum. As long as price holds above the $3,240–$3,220 support zone, GOLD remains bullish with targets up to $3,336.If you enjoy, press the like button.