Technical analysis by FrankFx14 about Symbol PAXG: Sell recommendation (5/9/2025)

Gold (XAUUSD) just hit a key supply zone around $3425 for the third time and failed to break through. This triple rejection in a high-volume supply area suggests strong institutional selling pressure.Here’s why I’m watching closely:1. Supply Zone DominanceThe LuxAlgo Supply & Demand indicator shows repeated rejections in the $3400–$3425 range – a classic signal that smart money is offloading positions.2. Bearish Momentum BuildingAfter each rejection, price retraces with higher volume – a sign of increasing bearish pressure. If price breaks below $3200, expect acceleration towards $2999 and potentially $2626 as highlighted by the next major demand zone.3. Divergence in Price & MomentumRecent price highs have not been confirmed by momentum indicators (RSI/MACD divergence). That’s another bearish clue.Key Levels to Watch:Supply Zone: $3400–$3425 (Strong Resistance)Support 1: $3200Support 2: $2999Final Demand Zone: $2626My Trade Plan:Watching for a clean break and retest of $3200 for potential short entry. Targeting $3000 with SL above $3425.What do you think? Will Gold break down or surprise us with a bullish breakout? Drop your thoughts and charts below!#XAUUSD #Gold #Forex #LuxAlgo #SmartMoney #PriceAction #SupplyAndDemand #FrankFx