Technical analysis by AndeWave about Symbol PAXG: Sell recommendation (5/14/2025)

GOLD is testing key support. The price approached from afar and quite sharply. On high volatility the level will be difficult to break through and we should wait for correctionWithin the framework of correction gold may test 0.5 - 0.7 Fibo and turn around to continue its fall.Scenario:False break of support 3200 - 3203, consolidation above the level and correction to 3222. From 3222 we can consider the continuation of the fallCancellation. The market turned out to be more aggressive. I was counting on a false breakdown from the market maker to gather liquidity before the continuation of the fall But gold decided to go down at once. In addition, the price fall was influenced by the growth of SP500.