Technical analysis by Mr_Zakrii about Symbol PAXG on 5/27/2025

The chart you've shared is a 1-hour candlestick chart of Gold (XAU/USD), showing a technical analysis with support and resistance zones, along with a projected bearish movement. Here's a detailed breakdown:Key Observations:1. Current Price Level:Gold is trading around $3,322.79, slightly below a key resistance zone.2. Resistance Zone (Top Yellow Box):The resistance area is marked between approximately $3,360 and $3,372.Price has previously been rejected from this zone, indicating strong selling pressure.3. Support Zones:Middle support zone around $3,280 – minor support where price might temporarily bounce.Bottom support zone around $3,211.90 – strong support and likely target zone for the projected move.4. Bearish Projection (Blue Arrows):The analysis anticipates a potential minor retracement or consolidation, followed by a sharp move downward.Final target appears to be just above $3,211, suggesting a potential short trade setup.5. Volume Analysis:Volume spikes correlate with major price movements, showing increased participation in those zones.Possible Interpretation:This chart suggests a bearish outlook for gold in the short term.A trader might consider a short position if price fails to reclaim the resistance zone and confirms a break below the minor support near $3,280.Risk management would likely involve placing a stop above the resistance zone ($3,360–$3,372), and taking profit near the $3,211 support area.Would you like help creating a trading plan based on this chart?