Technical analysis by Mihai_Iacob about Symbol PAXG: Sell recommendation (5/8/2025)

In my analysis yesterday, I noted that after the false break above 3370 resistance, there was a high likelihood of a reversal, potentially driving Gold back down to the 3270 support zone.Market Reaction:•As expected, Gold turned lower after retesting the broken 3370 support, now acting as resistance.•The price dropped nearly 1000 pips, which has become the new norm for daily Gold fluctuations lately.What’s Next?•With the current rebound, the 3370 zone should once again act as a barrier.•The strategy remains to sell rallies, targeting a fresh test of the 3270 support zone.Until this support is broken, expect very volatile moves, but the broader trend remains bearishDisclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.3270 zone touched