Technical analysis by Johnson67 about Symbol PAXG: Sell recommendation (5/13/2025)

Chart Pattern Identified:A Head and Shoulders pattern is marked on the chart:Left Shoulder, Head, and Right Shoulder are clearly annotated.This is a classic bearish reversal pattern.Trendline and Channels:There's a rising channel marked earlier in the chart (from mid-March to early April).A support line (neckline) is drawn diagonally upward, connecting the "bos" (break of structure) point with the current price action.Break of Structure (BOS):Marked near the beginning of the rising trend. It often signifies the start of a new trend phase.Resistance Level:A horizontal resistance line is drawn at the top of the Head and Shoulders pattern, indicating a price level where selling pressure is expected.Forecast:A bearish forecast is illustrated:The price is expected to break below the neckline (support).After a possible retest, it is anticipated to move downward, toward a lower target zone (highlighted in green).The red zone indicates a stop-loss or invalidation area if price moves higher.Current Price:Around 3,237.654 USD/oz, with sell and buy options visible.Interpretation:The trader appears to be anticipating a bearish move in gold based on the completed Head and Shoulders pattern. The expected movement is a drop below the neckline support, leading to a potential downtrend continuation.