Technical analysis by shakatrade1_618 about Symbol PAXG: Sell recommendation (4/16/2025)

The impulse move in XAUUSD GC1! GOLD GOLD GLD appears to be complete. Several signals point to an imminent correction: A five-wave structure is nearing its final leg RSI is showing bearish divergence Volume is surging at the top — a classic sign of distribution The 3315–3350 zone is a risk area. Expecting a pullback to 3200–3150, possibly deeper.New High or Double Zigzag? The first leg of the decline from the local high has played out — a simple ABC corrective structure. Price is now testing the 3030–3040 resistance zone, which previously triggered a wave of selling. This area is crucial in the short term. 🔀 Two possible scenarios: Bearish case: If sellers step in again around 3030–3040, we could see a deeper correction unfolding — possibly a double zigzag (WXY) or even an initial diagonal (cLD) structure. Bullish case: If the zone is breached without strong resistance, a higher high is likely, signaling the continuation of the impulsive move. At this stage, I’m leaning toward a deeper correction as the more probable scenario.