Technical analysis by Mr_Zakrii about Symbol PAXG on 5/5/2025

This chart is a technical analysis for CFDs on Gold (USD/OZ) on a 1-hour timeframe. Here's a breakdown of the key elements:1. Price Levels:Current Price: Around 3,277.860.Resistance Zone (upper orange box): Around 3,400 to 3,500, with a highlighted yellow zone at the top likely indicating a strong resistance or target area.Support Zone (lower orange box): Around 3,150 to 3,200.2. Predicted Scenarios (illustrated with arrows):Bullish Scenario (Yellow Path): Price breaks above the 3,400 resistance zone and continues toward the 3,500+ area.Bearish Scenario (Blue Path): Price fails to break the resistance and instead drops back to the support zone near 3,200.3. Pattern & Trend:The blue zigzag lines represent recent price action, showing a recovery from a lower low.Potential inverse head and shoulders or double bottom could be forming, indicating bullish sentiment if confirmed.4. Volume:Volume bar is shown at 61.36K, which may indicate rising participation or interest.5. Fundamental Note:Two U.S. flag icons are present, likely referencing upcoming U.S. economic data releases which may influence gold prices (e.g., jobs data, Fed news).This chart suggests a decision point: either a breakout or rejection at resistance. Are you looking to trade based on this setup or want help interpreting the next move?