Technical analysis by Mr_Zakrii about Symbol PAXG on 5/26/2025

This chart is a technical analysis of the gold price (CFDs on Gold in USD per ounce) on the 45-minute timeframe. Here's a breakdown of the key details:Chart Pattern:Ascending Channel: Price has been moving within a well-defined ascending channel, indicated by the two parallel blue lines.Bearish Breakdown Setup: The price is currently near the upper boundary (resistance) of the channel and has started to decline, indicating a potential breakout to the downside.Highlighted Zones:Resistance Zone (Yellow near 3,422): This is where price has struggled to go higher, marked as the top of the channel.Support Zone (Yellow near 3,163): Marked as the lower target, this is a previous area of strong buying interest.Trade Setup:Entry Zone: Around the current price of 3,334.627.Stop Loss: Just above the resistance zone at 3,422.237.Take Profit: Around 3,163.971, near the support zone.Risk/Reward: The setup aims for a relatively high reward-to-risk ratio, suggesting a short (sell) trade with potential for substantial gain if the breakdown occurs.Volume:There’s a spike in volume on some downward candles, which may suggest increasing selling pressure.Interpretation:The chart indicates a potential bearish reversal after a prolonged uptrend within a rising channel. If the price breaks below the lower trendline of the channel, a move toward the 3,163 support zone is anticipated.Let me know if you'd like this analysis in another format (e.g., report or PDF) or if you want similar insights for a different asset.