Technical analysis by RLinda about Symbol PAXG: Buy recommendation (5/20/2025)

is trading in consolidation. As expected, the retest of the 3290 support level will end with a strengthening. The price is heading towards the resistance of the range.The dollar is falling, which is supporting gold. The local trend is set by the fundamental background. The price of gold is strengthening and heading towards the resistance of the trading range, with the zone of interest being the liquidity located above 3346. The fundamental background is on the buyers' side, but since today is Friday, there is no strong news and the market is unlikely to seek a breakout from consolidation due to the lack of a driver. Thus, we can expect a correction from resistance before growth resumes, which may form next week. Resistance levels: 3346, 3360Support levels: 3308, 3290, 3282Consolidation after the break of the local downtrend amid a falling dollar means that bulls are building up potential before a possible continuation of growth. But at the moment, an intraday trading strategy can be considered. Best regards, R. Linda!