Technical analysis by Mr_Zakrii about Symbol PAXG: Sell recommendation (5/29/2025)

This chart is a 30-minute candlestick chart for CFDs on Gold (XAU/USD), published on TradingView. Here’s a detailed breakdown of what it shows:---Chart Analysis Details1. Timeframe:30-minute candlesticks, showing short-term price movements.2. Price Levels:Current price: Around 3,277.014 USDResistance zone (highlighted in yellow near the top): Around 3,299.476 USDSupport zone (highlighted in yellow near the bottom): Around 3,249.832 USD3. Volume:Volume bars at the bottom suggest increased activity leading up to and during the most recent upward movement.4. Price Action:There was a strong bullish move recovering from the support area near 3,250 USD.Price reached a recent high near 3,285 USD and began to retrace slightly.5. Forecast/Prediction (Illustrated by blue arrows):The trader (Mr_Zakrii) anticipates a bearish reversal from the current region.The blue arrows suggest a short position setup:Entry near 3,285 USDTarget back toward the support area near 3,250 USDStop-loss near 3,299.476 USD6. Risk-to-Reward Ratio:The shaded red and green areas represent the stop-loss and take-profit zones respectively, indicating a favorable risk-to-reward setup (reward appears larger than the risk).7. News Indicator:There's a news icon (U.S. flag) indicating an upcoming news event that might affect the gold price volatility.---Conclusion:This is a bearish setup based on a resistance rejection around 3,285–3,299 USD, aiming for a move back to the support zone near 3,250 USD. The chart suggests a sell position with a clear stop-loss and take-profit area, possibly relying on technical resistance and recent price action for confirmation.Let me know if you want help evaluating the trade setup or analyzing the fundamental context behind it.