Technical analysis by solidsnaketrades about Symbol PAXG: Sell recommendation (5/25/2025)

GOLD Chart Breakdown Current Price: 3,357.519 Structure Focus: Still under the major downtrend line (red diagonal), price is reacting near resistance. Fibonacci Levels: 0.382: 3,366.444 (resistance zone just tested) 0.5: 3,392.6 / 3,392.9 0.618: 3,418.7 and 3,457.1 0.236 (local support): 3,334.087 0.382 (next support): 3,328.697 0 (retracement target): 3,281.785 🧠 Key Observations Retest of Downtrend Line: The price is pressing into the trendline and has not decisively broken above it. Sellers are reacting in this area. Bearish Pressure Signs: Several candles show indecision or rejection wicks near the 3,360–3,366 area. Trendline remains unbroken — key resistance is holding for now. Fibonacci Confluence Zone (Sells Likely): 0.382–0.5 retracement level (~3,366–3,393) is a likely sell zone, aligning with the trendline. Support Zones Below: Immediate: 3,334 (Fib 0.236) Medium-term: 3,328, and 3,281 (0% retrace) Further below: 3,249 and 3,120 🔮 Next Week Projections (May 27–31) 🔻 Primary Bearish Scenario (Higher Probability) Setup: Price fails to break above the trendline and 0.382–0.5 Fib resistance (~3,366–3,393). Action: Rejection confirms short entry. Targets: TP1: 3,334 (local support) TP2: 3,328 TP3: 3,281 (major swing support / 0% retracement) Invalidation: Sustained breakout above 3,393–3,400 🔺 Bullish Breakout Scenario Setup: Clean breakout above trendline and 3,393, followed by support retest. Action: Long entry after retest with confirmation. Targets: TP1: 3,418 (0.618 Fib) TP2: 3,455 (0.786 Fib) TP3: 3,503 (previous high) ✅ Watchlist for Trade Setup Monitor candlestick patterns near 3,360–3,393 Look for confirmation from: RSI divergence or overbought conditions for shorts Volume surge for breakout validation Break/retest structure