Technical analysis by melikatrader94 about Symbol PAXG on 5/20/2025

hello guys!Gold is currently forming a potential Inverse Head and Shoulders pattern at the bottom of a descending channel. This setup typically signals a reversal, but it faces a critical test at the neckline resistance and channel midline.📌 Scenarios to Watch:1️⃣ Bullish Breakout:If the neckline is broken with strong momentum, we could see a continuation toward the upper resistance near $3,340, aligning with the descending channel’s top.2️⃣ Bearish Rejection:Failure to break the neckline could result in a sharp rejection, pushing gold back down toward the demand zone at $3,055–$3,075, especially if price respects the mid-channel resistance.🔍 Key Technical Insights:🧩 Inverse Head & Shoulders pattern forming📉 Still trading inside a bearish descending channel🛑 Neckline and midline confluence = strong resistance🔻 Below neckline = bearish continuation riskyou can close it