Technical analysis by weslad about Symbol PAXG on 5/22/2025

Gold has completed a 5-wave impulsive structure and is currently trading within the supply zone around its all-time high ($3,500). Price action suggests exhaustion, and unless a new ATH is formed, a macro correction is likely to begin soon.Key levels to monitor remain the Immediate Demand Zone $2,750 – $2,900 and this may offer short-term support with Main Demand Zone (Strong Buyback Area) $2,530 a critical level for potential re-accumulation and long-term re-entry. Moreover, the invalidation occur when Bullish bias resumes only if price breaks and closes above $3,500.Break of the ascending trendline will confirm a deeper corrective leg, likely toward the main demand. This structure offers a clear medium to long term roadmap watch for confirmation before positioning.All attention shifted to the immediate supply area towards the current ATH.