Technical analysis by fxtraderanthony about Symbol PAXG on 5/29/2025

📉 XAUUSD Trade Outlook 🧠🔍Currently analyzing Gold (XAUUSD), and things are getting interesting. On the daily timeframe, we’ve seen a clear bearish break of market structure, and this shift is also evident on the 4-hour chart. 🕰️📉I’m watching closely for a bullish retracement into my key Fibonacci 61.8% level, where I’ll be looking for confirmation of a bearish structural break to initiate a short position. 🎯🔽When we compare this setup to the US500 (S&P 500), it becomes even more compelling. The indices have rallied hard and appear overextended — a correction seems likely. 📊🧾If we do get that pullback in the indices, gold may rally temporarily, but my overall bias remains bearish. If the indices resume their uptrend after a pullback, I expect gold to weaken further, aligning with my current short-side outlook. ⚠️📉🛑 This is not financial advice. Always do your own analysis and manage risk according to your trading plan.💬 What are your thoughts on gold right now? Are you leaning bullish or bearish? Let me know in the comments! 👇