Technical analysis by xxChartWhizxx about Symbol PAXG on 5/1/2025

This chart shows a potential scalping buy setup on the 15-minute XAUUSD chart. After a strong bearish drop, price found support near the 3,220 level, forming a bullish rejection with increasing volume—an early sign of buyers stepping in. The RSI is recovering from oversold levels, suggesting room for upward movement. The marked red zone around 3,270 represents a likely resistance or supply area, where price may face selling pressure again. A short-term buy could be considered as price pushes up from the current level, targeting the red zone for a quick profit. This setup anticipates a bounce toward resistance before a potential reversal or continuation of the larger downtrend.