Technical analysis by AmirMIssa about Symbol PAXG: Sell recommendation (5/1/2025)

Gold has broken out of a sideways trading range that lasted for about two weeks, between the resistance level at 3345 and the support level at 2275. Currently, gold is leaning toward a bearish outlook, targeting the 61.8% Fibonacci retracement level of the latest upward wave, which started in late November and peaked at $3500 earlier this month. The best selling opportunity for gold is around the 3238 level, with a stop loss at 3265 and a target at 3165.