Technical analysis by GoldenViewJake about Symbol PAXG: Buy recommendation (5/8/2025)

On Wednesday, the US dollar index strengthened and closed up 0.47% at 99.86 as the Fed remained on hold and Powell reiterated his willingness to wait for a clearer outlook before taking action. The benchmark 10-year Treasury yield closed at 4.2740%; the two-year Treasury yield, which is more sensitive to monetary policy, closed at 3.7870%.Due to the market's optimism about trade negotiations and the strengthening of the US dollar, spot gold fell more than $60 during the day and finally closed down 2.12% at $3,364.07.From the perspective of cyclical performance, there is a high probability of a wave of adjustment space under the three consecutive positive lines on the daily line, and the intensity of this adjustment will not be small. It is possible that the big negative swallows the positive and goes directly below 3,300. If this happens, it can be said that gold will be difficult to rise this week. On Thursday and Friday, there may be a volatile decline or high-level fluctuations. From the perspective of the H4 cycle, a big negative line closed, covering the previous continuous rise, and breaking the support of the 5-day and 10-day moving averages. This wave may continue to fall to the Bollinger middle rail near 3300, but if it is a high-level shock, the Bollinger middle rail is not broken, and it may rise again to the high point of 3430. Therefore, gold has experienced a big rise and fall in this cycle, and now it is possible to rise or fall. In the short-term cycle, pay attention to the support effect of 3355 under the weakness of the Asian session. If it does not break, you can continue to be bullish, and the upper target is 3430.Overall, the short-term operation strategy of gold today is recommended to buy on pullbacks and sell on rebounds. The upper short-term focus is on the 3397-3420 line of resistance, and the lower short-term focus is on the 3365-3355 line of support.Buy range: 3375-3374, SL: 3365, TP: 3395-3405Sell range: 3418-3420, SL: 3430, TP: 3400-3390Key points:First support: 3370, second support: 3365, third support: 3355First resistance: 3410, second resistance: 3420, third resistance: 3430