Technical analysis by ElizatradingQueen about Symbol PAXG: Buy recommendation (4/24/2025)

This 1-hour chart of Gold (XAU/USD) highlights a recent downtrend followed by a potential reversal. After forming a support level near 3,270 USD, the price has begun to climb, suggesting bullish momentum. A target of 3,370 USD is projected, as indicated by the arrow and label. The setup implies a breakout from the descending channel, offering a possible short-term buying opportunity. Keep an eye on volume and confirmation candles for stronger signals. 3. Breakout & Momentum ShiftAfter touching the support, the price rallied, breaking above the descending channel.The recent green candles indicate bullish momentum, potentially marking the start of a trend reversal or a bullish correction.---4. Target and ResistanceThe chart marks a target level at $3,370, aligning with previous support-turned-resistance or a Fibonacci retracement zone.This could be a realistic short-term target if bullish momentum sustains.---5. Volume and ConfirmationThe chart doesn't show volume, but confirmation of this reversal would be stronger with increasing volume on green candles.