Technical analysis by Miamberke_ about Symbol PAXG on 4/25/2025

Technical Analysis Trend & Patterns Since late December 2024, gold has been in a strong uptrend, breaking out of the descending channel that formed in December–January. Recently we’ve seen a brief consolidation around the $3,300–$3,400 zone after peaking near $3,500. Indicators The RSI sits just above 50, pointing to continued bullish momentum. The MACD lines remain positive, though they’re approaching a potential turning phase. Support & Resistance Resistance: $3,400 (recent daily highs), then $3,500 (all-time high). Support: $3,300 (current consolidation floor), followed by $3,250 and $3,100 as deeper support levels. Short-term Outlook Gold is likely to trade sideways between $3,300–$3,400, with dips offering buying opportunities. A decisive break above $3,400 would open the door to retests near $3,450–$3,500. If XAU/USD falls below $3,300, it could quickly slide toward $3,250–$3,100. Fundamental Catalysts Safe-haven demand from geopolitical and trade tensions continues to underpin gold prices. Fed policy: the odds of a rate cut before summer remain low, as Fed officials emphasize patience. That limits downward pressure on the dollar (and thus supports gold). Macro agenda: May 2: US Non-Farm Payrolls May 7: Fed meeting & Powell remarks May 13: CPI report vs. rate guidance These releases could trigger significant intraday volatility. Conclusion & Near-term Outlook Given the technical bullish bias and upcoming US data, I expect over the next few days: Consolidation: $3,300–$3,400 Bullish scenario: recovery above $3,400 leads to retests of $3,450–$3,500 Bearish scenario: a break below $3,300 triggers a swift drop toward $3,250–$3,100 Stay alert around the NFP, Fed, and CPI releases—they’ll drive the near-term direction.