Technical analysis by Ahmedshebe about Symbol PAXG: Sell recommendation (5/20/2025)

Hi TradersGOLD had started recovering amid uncertainty, but there is a fairly strong resistance zone ahead that could hold back growth and trigger a decline...Since the opening of the session, the price has fallen and consolidated after recovering slightly for that week-long decline.There's pressure on the dollar and Moody's downgrade of the US credit rating who are supporting the metal, while on the other hand, high bond yields and possible US trade agreements are limiting growth.Investors are awaiting new statements from the Fed and are monitoring US negotiations with their partners. Amid concerns about fiscal stability and weak economic data, gold may remain in a positive territory until a decline which is now visible to the eyes.Resistance levels: 3257, 3265Support levels: 3206, 3153A false breakout of the specified resistance will confirm the inability to continue growth. Consolidation after a false breakout of 3257 - 3265 below 3257 could trigger a reversal and a fall to areas of interest...As indicated yesterday we were expecting the MARKET to either HIT or TAKE DOWN $3206 which we saw, afterwards we expected the MARKET to extend even further UP but there was a decline and instead it started signaling falls indicating that BEARS were taking control.I can happily say that today we are BEARISH , Momentum play is still moderate , we have a falling MARKET though in order to confirm that fall we should look at just one KEY LEVEL $3210 , which plays as our CONFIRMATION zone, once this level is taken out , we should look at CANDLESTICK PATTERN FORMATION , Identify Momentum and wait for a RETEST before having our SELL ENTRIES.The MELTDOWN shouldn't be long as we will be targeting $3207 however for those who have strong liquidity you should hold , for those with small liquidity $3207 should be a close TP for you and once it's broken wait for retest and have your NEW SELL POSITION.After the break i'm looking at mainly $3153 and $3126 as my TAKE PROFITS ZONES. although this sounds easy , but my main TP is $3153, I look at this level only and i'll be closing most of my entries here then i evaluate further and confirm my second TP zone $3126.General we are BEARISH until proven otherwise , will be back with further updates.A decline of break through of our CONFIRMATION ZONE $3205 , The PRICE bounced of the ZONE and started RALLYING UP, suggesting BULLISH MOMENTUM INCREASE , however we cannot yet be certain of the BULLISH MOVEMENT until we break $3250.The reason to as why i indicated in my earlier ANALYSIS that those with small liquidity's should ONLY target $3205 as their FIRST TAKE PROFIT ZONE & then wait for further ENTRIES.Will be back with further updates.Due to that DECLINE , i'm now anticipating for an UPWARD MOVE, although it's not yet clear, but i'm thinking $3245 IS GOING TO COME IN PLAY, which means we will first have the BULLISH MOVEMENT before the FALL, i missed the POINT here and that's why it's important to have confirmations before entries.Meanwhile my TP was taken out FOR the SELL entries i had and i didn't have any pending entries which i'm now looking running for the THE BUYS. Bought at $3216 targeting $3245 for a start.Will be back with further updates. II anticipated for $3245 but the price extended even further to $3280, seems as if BULLS are not ready to let go! Anyways currently expecting a consolidation before we see what is to be done next.Will be back in a few for the updatesHey guys I'm back so this is my take, since there are some levels I didn't expect to come in play but they did, I'm seeing BULLS with high momentum. I had targets on a small RR but now I'm I'm going in full force targeting $3330 and once this zone comes to play, I will then stay dormant evaluate further and decide on either more buys or sells, the probability of a fall is high once we see the resistanve level $3330 knocked out.Once $3292 is broken then wait for a retest and have your BUY ENTRIES, Target $3330 .