Technical analysis by JamieLouis about Symbol PAXG: Sell recommendation (4/17/2025)

The price of gold has been soaring recently, reaching as high as 3358, but we need to be alert to the risk of chasing high prices. The price of gold has risen sharply since the opening of 3230 US dollars, with a daily increase of more than 100 US dollars. The daily chart closed positive, but there was a slight correction after the early high. From the perspective of technical analysis, if the price of gold falls below the early low of 3343, it may turn into range fluctuations; if it can hold this support level, there is still a chance to continue to challenge new highs. The key support level is in the 3310-3305 area, which is the conversion level of the previous top and bottom. If it further drops to 3270 US dollars, we need to be alert to the risk of short-term correction. The upper resistance level is clearly located at the intraday high of 3358. It is not advisable to blindly chase the rise before breaking through. Therefore, it is recommended to pay attention to the weekly closing and the possible profit-taking risks before the Easter holiday. Operation strategy: 1. It is recommended to short gold when it rebounds to around 3345-3350, with a stop loss at 3358 and a target of 3310; 2. It is recommended to long gold when it falls back to around 3310-3305, with a stop loss at 3298 and a target of 3345.If you are a beginner and want to get rich quickly, follow me and your profit will double.As long as you stick to it, our weekly profit can reach more than 200%.If you don't get a return, we won't charge any fees