Technical analysis by Mr_adnan1 about Symbol PAXG: Buy recommendation (5/6/2025)

Gold (XAU/USD) is showing strong bullish momentum, currently trading around $3,379.58, with a notable intraday gain of +1.30%. The recent breakout above the descending trendline signals a potential shift in market sentiment from bearish to bullish.---Key Technical Levels:Support Zone: $3,351 – Strong demand zone offering a bullish base.Immediate Resistance: $3,439 – Previous key rejection area.Next Resistance Levels:$3,503 – Intermediate resistance.Target Zone: $3,621 – Projected breakout target.---Technical Structure:The price has broken out of a falling wedge or descending trendline, indicating a potential bullish reversal. If bulls maintain control and price sustains above $3,439, further upside towards $3,503 and $3,621 is likely.The upward projection is also supported by the formation of higher lows and higher highs on the 4H timeframe.