Technical analysis by nabeeltrader1 about Symbol PAXG: Sell recommendation (5/18/2025)

Gold Spot (XAU/USD) – 4H Time Frame🧠 Key Pattern: Double Top FormationFirst High and Second High clearly mark the formation of a Double Top around the $3,497 supply zone.This classic reversal pattern indicates potential bearish momentum after the second failed attempt to break the previous high.📉 Supply & Demand ZonesSupply Zone: Around $3,497 (Strong resistance; price rejected twice)Demand Zone: Between $2,970 and $3,030 (Strong support area highlighted for a buy position)📦 Fair Value Gap (FVG)A visible FVG (imbalance) between $3,250 and $3,300 suggests inefficiency, which price might revisit and fill before continuation downward.🎯 Target & Buy PositionTarget and optimal buy area marked at $2,970, aligning with the demand zone.Strong bullish reaction expected if price touches or sweeps this zone, especially with RSI oversold confirmation.📊 RSI Indicator (Bottom Panel)RSI is currently around 45.90, recently bounced from 39.96, indicating:No overbought condition.Potential for further downside before bullish momentum resumes near the demand zone.📌 Summary StrategySell Bias Active due to double top and supply rejection.Watch for rejection or liquidity sweep near the FVG.Prepare for buy setups at the $2,970 demand zone, supported by bullish divergence or price action confirmation.#XAUUSD #XAU #TRADING