Technical analysis by xxChartWhizxx about Symbol PAXG on 5/13/2025

Price action shows gold respecting a key horizontal support zone around $3,215–$3,225, where multiple previous rejections have occurred. The latest candlesticks reveal long wicks to the downside and rejection from that area, indicating strong buyer interest and potential accumulation. Volume is increasing, which reinforces the credibility of this support.The structure points to a potential reversal setup as the market creates a base and shows early signs of higher lows. If price breaks and closes above the minor resistance around $3,245–$3,255, bullish momentum may follow, targeting the next swing highs near $3,300–$3,340.A clean invalidation for this bullish bias would be a breakdown below the $3,215 support zone with strong volume.Key Technical Levels:Support: $3,215–$3,225 (major support zone)Resistance: $3,255 (minor), then $3,300–$3,340Bias: Bullish above $3,255, cautious below $3,215Some USD-impacting events for today include:U.S. CPI or PPI data – Inflation readings can influence Fed rate expectations, affecting gold.Fed speeches – Any hawkish/dovish signals from Federal Reserve officials will shift sentiment.Retail Sales or Consumer Sentiment (UoM) – Strong numbers might boost the dollar and pressure gold, while weak ones can do the opposite.