Technical analysis by Mr_Expert7- about Symbol PAXG: Buy recommendation (5/11/2025)

This is a 2-hour candlestick chart for Gold Spot against the U.S. Dollar (XAU/USD), published on TradingView. Here's a breakdown of the technical details and indications:Chart OverviewCurrent Price: $3,325.390Change: +19.410 (+0.59%)Technical Patterns & Analysis1. Uptrend Channel (Early May):A bullish channel was formed between May 3–6.Price moved steadily upwards within this channel, supported by higher lows and higher highs.2. Descending Channel (Correction):Starting around May 6–7, a descending parallel channel appeared, indicating a correction or consolidation phase.3. Wedge & Breakout Zone:Within the descending channel, a falling wedge pattern was identified, potentially a bullish reversal pattern.The breakout of the wedge to the upside indicates a bullish signal.4. Support & Resistance Zones:Support Zone: Around the $3,200 mark—highlighted by a purple box, suggesting a strong demand area.Immediate Resistance: Just above the $3,325 price level.Target Resistance Zone: Around $3,400—highlighted with an arrow, suggesting the next major target if the bullish move continues.5. Potential Price Path:The chart suggests two potential scenarios:A bullish continuation toward $3,400 after consolidating around current levels.A possible pullback to the $3,200 support zone before resuming upward momentum.Would you like an interpretation of this chart from a trader’s perspective (e.g., possible entries, stop-loss, targets)?