Technical analysis by Mihai_Iacob about Symbol PAXG: Sell recommendation (4/30/2025)

Since Monday, I’ve been saying that Gold hasn’t finished correcting, and the price action is now confirming that view. The drop continued with breaks below two key levels: the 3300 figure and the 3270 support, which was the recent low.After some sideways action (a bit of a limbo), we finally got the clean breakdown. At the time of writing, price sits at 3248, having just bounced slightly from the 3240 support, which aligns with mid-April’s ATH.Now comes the big question: Is Gold done correcting?In my opinion, not yet – and here’s why:Technical reasons for further downside:1.The break below 3270 is significant and opens the door to deeper correction.2.We now have two measured targets: 📉 Measured range target: ~1000 pips → puts price below 3200.📉 First leg down: ~2500 pips → could push price closer to the 3000 zone.Trading Plan:The strategy remains unchanged: sell the rallies. As long as price stays below 3270-3290 zone, downside continuation is the base case.A move towards at least 3200 looks very probable – and deeper levels can't be ruled out.Don’t rush to call a bottom – let the market show when the correction is really done. Until then, the bias stays bearish. 🚀P.S: Expect great volatility to remainDisclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.