Technical analysis by melikatrader94 about Symbol PAXG: Buy recommendation (5/24/2025)

Hello guys, let's dive into Gold analysis!Gold is currently forming a bullish flag pattern, a continuation formation that typically follows a strong upward impulse (flagpole). After a sharp rally, the price consolidated within a downward channel, creating the classic flag structure.🔍 Technical Breakdown:Flagpole: The strong bullish rally in early April marks the beginning of the uptrend.Flag (Channel): Price has corrected in a downward-sloping channel, respecting both upper and lower bounds, creating a textbook flag pattern.Breakout Zone: Price is now testing the upper boundary of the flag. A confirmed breakout above this resistance would signal a continuation of the prior uptrend.🎯 Price Targets:First Target: Around $3,445, which aligns with the measured move from the breakout point.Second Target: Around $3,725, representing full flagpole projection from the breakout zone.📌 Key Levels to Watch:Breakout Confirmation: A strong 4H close above the flag’s upper boundary (~$3,260) with volume confirmation would validate the pattern._____________________________________Invalidation: A rejection from the resistance and a fall below the channel may delay the bullish scenario, potentially retesting lower support around $3,090.📊 Conclusion:This setup favors bulls, but patience is key. Traders may consider waiting for a clear breakout and retest for safer long entries, aiming for the outlined targets.The channel is not broken yet!